There are four items on the Japanese college student's wish list.

What is missing is what's interesting.

1. $200 headphones for his new iPod Touch

2. A Nintendo Wii or a Sony PS3…we'll decide later

3. A digital camera or cell phone with a better camera in it;

4. A flatscreen TV.

Um…what's missing?

A PC is missing.

Smartphones, advanced internet-connected game consoles and DVD recorders with terabytes of memory…who needs a PC?

Analysts are wondering if Japan has gone full circle…start with the PC and now wean itself from it.

PC shipments in Japan have fallen for 5 consecutive quarters…the first time ever that has happened. Desktops are down 4.8% and laptops are down 3.1%.

Big TVs are more impressive than more powerful PCs and small kids are growing up doing everything on their cell phone that used to be done on a PC.

Is this a sign of things to come…far into the future, say 5-10 years elsewhere?

China, India, the developing world…still a generation or more behind Japan…and perhaps Korea and Taiwan when it comes to needing the PC less and less.

What do you think?