Apple Completely Whiffed On The 'Phablets' Market, Which Is Turning Out To Be Huge

Earlier today, we published a Reuters story about "phablets" – those huge smartphones from Samsung and others that are so big, they are almost tablets.

(Get it? Phone + tablets = phablets. Some call them super smartphones, but we prefer: phablets.)

Anyway, whatever you call them, these phablets turned out to be a HUGE hit in 2012.

"I think phone size was a preconceived notion based on voice usage," one articulate consumer told Reuters.

"Smaller was better until phones got smart, became visual."

Now, Barclays estimates the market for phablets will grow to $135 billion in 2015.

That's bigger than Apple's current annual iPhone revenues of about $80 billion.

This has to be disheartening news for Apple shareholders.

Apple is exactly nowhere in the "phablets" market.

The closest thing it sells is an iPad Mini with LTE.

The light at the end of the tunnel: Brian White at Topeka Capital reports that Apple is currently working a bigger iPhone, and expets to release it in June.