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I've noticed and read articles about the decline on the popularity of Tablets and Phablets which was very popular about 4 years ago, but since then a lot of people switched to big screen smartphones, which has a 5 inch to 6 inch screen. Maybe it's because this new smartphones are more powerful with emphasis to its cameras and memory or more people opted for a mid sized screen which can still fit in their pockets.
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I am not sure about the waning popularity of phablets and tablets, however, I never took interest in tablets and phablets. Tablets and phablets are after all handheld device and you have limitations on what you can do on these devices. Whatever you can do on tablets and phablets, you can do it on a smartphone. However, what you do on your computer, you cannot do it on tablets and phablets.
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I own a 17-inch laptop and a 5.5-inch smartphone. I don't see the point of having another device that carries out the same function of the two other gadgets that I have.
I see kids mainly use tablets and phablets for gaming and browsing the net and stuff. My mother also uses my sister's tablet to do social media as it has a larger display since her eyes can't cater to the smaller fonts that smartphones have. That's all I can think of when it comes to its practical use.
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I'm not sure it's a popular thing about the decline of tablets because I'm definitely a fan of tablets more than laptops at the moment and over here in Nigeria, a lot of people are taking up the use of tablets more than other computer gadgets because they offer more to the users than other Android small smartphone.