i agree with both points:
1) the table will not replace the traditional PC; it will compete with large-screen smartphones
2) convertibles will become more popular than traditional laptops with touch screens
The CEO is good. He knows his products and target market. No wonder Lenovo is gaining market share.
On launch day I picked up a Thinkpad Twist for work (I do IT for an organization with multiple locations so I am always on the go... a hybrid/convertible works wonders in this arena as I am not always sitting). I am also going to pick up a Thinkpad Tablet 2 for my wife for school. So far, in my opinion, Lenovo has the best understanding of Windows 8 and what it is designed to do. They've got it going on.
Both of my sisters and both of my parents use computers mostly for browsing, reading/writing mail, Youtube, Facebook and online banking. Most of their friends (and most of mine) have similar usage patterns. All these people really need is a screen of some sort (smart-TV, smartphone, tablet, convertible/hybrid, etc.) with keyboard, they do not need a conventional PC.
This is where PC/laptop sales are going to hurt most: non-gamer non-professional PC users realizing that they can now do just about everything they used their PCs for on a $200 tablet and smartphone/tablet computing should get much better with new/upcoming products featuring 2GB RAM.
Touch will not be popular on Traditional PCs, Touch for content consumers but not for content creators! If Leveno makes all touch screen laptops, they better write a touch screen interface that can work with any OS and one that can be turned off if the user so chooses! Better yet, would be Levono should offer laptops that run and boot into a type 1 hypervisor VM and let he user run any OS, beacuse the future of computing is really going to be virtualized and HSA! Future PCs will not need to be chained to any OS, and will be able to run any OS or more than one OS at a time, by booting into a hypervisor!
I think tablets are a definate threat to the laptop market right now. I see phones being a threat to tablets down the road, but not the other way around.
Everyone needs a phone, technologically minded people will always have a smart phone, but when push comes to shove people will give up their laptop if it can do the work of their larger portable devices.
Before phones can really threaten the tablet market we need to see a few things;
1) slightly larger screens without larger phones (less bezel)
2) a more productivity oriented interface
3) more productivity oriented programs
4) docking capability, with enough horsepower to drive a large display
Arguably, this could be something that Microsoft thought ahead about when they decided to put full versions of Windows on their tablets rather than a mobile OS like Windows Phone like the approaches Apple and Google vendors are doing with iOS and Android. Because there is actually a full fledged OS and it's different enough from the phone to warrant it, more people could justify picking up both a Windows Phone 8 device and Windows 8 tablet. The compatibility is just another plus.