He said that Lenovo, HP and Dell will increase their market share at the expense of smaller players.

Lenovo currently holds 20.3 per cent market share, HP 18.5 percent and Dell follows with 14.5 percent.

Dell claimed that these three will corner about 80 percent of the market in the next five to seven years.

"In the first half of this year, we outgrew the two in notebooks and we have grown now 10 quarters in a row," Dell said.

IDC last month forecast PC shipments to fall 8.7 percent this year, steeper than its earlier estimate of a 6.2 percent decline, and said they are expected to return to growth in 2017.

Dell was taken private in a $24.9 billion buyout in 2013 by its CEO and his private equity partner, Silver Lake, after months of battling with investors who claimed the offer undervalued the company.

Dell said that becoming a private company meant that he could focus on forming glorious three year, five year and ten year plans.

He has been trying to transform the company he founded in 1984 into a complete provider of enterprise computing services similar to HP or IBM.

"We have been able to grow even though the (PC) market is shrinking and of course our business goes well beyond the device into data center, software, services and security," Dell said.

He dismissed moves to smartphones claiming that only one or two companies could make a profit in the smartphone business today and there were many companies that lost piles of cash.

"So, no thank you! I do not want to be in the smartphone business."