Best Buy CEO: Death of laptops grossly exaggerated

Dunn said Best Buy is seeing some shift in consumption patterns with tablet computers such as the iPad representing an "incremental opportunity." He hastened to defend the viability of the market for personal computers.

"We believe computers will remain a very popular gift this holiday because of the very distinct and desirable benefits they offer consumers," Dunn said. Retail laptop sales fell four percent in August with a similar drop expected in September. Some analysts have attributed the decrease to the growing popularity of the iPad and other tablet devices.