(Reuters) - Best Buy Co Inc Chief Executive Hubert Joly said tablets sales were “crashing” and the PC business was seeing a revival in sales, according to the website, Re/code.
The U.S. smartphone market has also grown more mature, Joly also said, according to the website.
Best Buy had earlier warned that same-store sales could fall this quarter and the next on lower demand for many consumer electronics.
Joly attributed the PC revival during the first quarter partly to Microsoft Corp stopping support for the older Windows XP operating system, the website said.
“The tablets boomed and now are crashing. The volume has really gone down in the last several months,” Re/code quoted Joly as saying in an interview.
“... I think the laptop has something of a revival because it’s becoming more versatile.”
Joly has removed layers of management, eliminated hundreds of jobs, closed unprofitable stores and boosted Best Buy’s cash reserves in efforts to stem sales declines since joining in the fall of 2012.
Reporting by Devika Krishna Kumar in Bangalore; Editing by Joyjeet Das