iPad mini ‘creates more demand than it cannibalizes’

In a note to clients the Cowen & Company analyst firm says the iPad mimi “creates more demand than it cannibalizes” and that over 50% of those planning to buy one are first-time tablet purchasers.

Cowen and Co. recently conducted a survey of 1,225 U.S. adults on their upcoming tablet buying preferences. According to “All Things Digital” () just 12% of respondents said that they would buy an iPad mini within the next 18 months. Out of that group, just 16.6% said that they were buying the tablet to replace it with another tablet.

What’s more, 29% of respondents said that the tablet they were replacing was an iPad. Given that, Cowen & Co. analyst Matthew Hoffman says the “iPad mini creates more demand than it cannibalizes.”