True, but for reasons other than raw demand.
Over the last 5 years, the advancements in processor technology miniaturization have slowed. We've reached a point where physical gates can't get any smaller without "leaking." New advancements in graphene layering and optical processing are making for interesting concepts but are not translating to factory floor manufacturing yet.
As such, most home users are enjoy similar speed and response on systems that are 5+ years old. The need to upgrade a home machine nowadays is greater than 5 years, on average. Even modern tablets and phones are lasting longer thanks to more resilient materials.
Combine this with a slumping global economy and record unemployment (REAL unemployment, not the trumped up BS numbers released monthly), and you have a recipe for slumping sales due to reduced demand.