Tablet evangelists keep repeating this mantra, but three years into the iPad era it's still not lining up with any reality I can see. Out of every single person I know, there is exactly one guy who uses a smartphone as his primary computing device, and that by his own admission is because he's out of work and can't afford (his words) "a real computer." He's not even a techie - nor are 90% of the other people I know. They're just normal people. Sure, many of them have iPhones and perhaps tablets, but they use them primarily as mobile browsing/email platforms, they don't try to do serious work on them, and they largely don't even use them when they're not out and about. They have PCs (or Macs) for that. And if they're normal people, what reason do I have to believe that all the other normal people walking around town jabbering into their smartphone don't have a real computer at home?
It's as gertsy says: what's selling is a vastly smaller subset of what people are using.
I know loads of people who use nothing but phones and tablets and have no desktop or laptop computer. They mostly fall into two categories: middle aged and older folks who don't care for computers and never did, and college students.
We're always going to have desktop and laptop computers, but they're evaporating from the consumer space at a rapid pace. Tablets and smartphones cover most users need in a less expensive and more convenient form factor.