The End Of Hardware?

Whether it's PCs, tablets, smart watches or now, even smartphones, the outlook for most major hardware device categories is not looking good, particularly here in the US. The issue is that both consumers and businesses have already bought a lot of these devices. Plus, they're hanging on to their purchases longer than they used to, and longer than many people originally thought they would. Many companies, including both Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM), have been forced to make some painful employee reductions as a result of these challenges, and there are likely more from other vendors still to come. So, does this signal the end of hardware as we know it?