According to preliminary data from Gartner, global PC shipments in the third quarter of 2023 amounted to 64.3 million units, 9% less than in the third quarter of 2022.
Although the third quarter results marked the eighth consecutive quarter of decline in the global PC market, Gartner expects growth to resume as early as the fourth quarter of this year.
“There is reason to believe that the decline in the PC market has finally bottomed out,” Mikako Kitagawa, director of research and analysis at Gartner, said in a statement. “In the third quarter, seasonal demand from the education market supported shipment growth, although demand for enterprise PCs remained weak, offsetting some growth. Suppliers have also achieved consistent reductions in inventories and are expected to bounce back by the end of 2023, barring a holiday collapse.”
In the third quarter of 2023, the leaders of the global PC market remained unchanged: Lenovo retained first place in shipments with a market share of 25.1%.
Data includes desktop and laptop PCs running Windows, macOS, or Chrome OS. All data are estimated based on preliminary research.
While Lenovo again saw year-over-year declines in shipments, they were minor. At the same time, HP was the only manufacturer to show year-over-year growth, with shipments increasing in all regions. Dell reported a sixth-quarter decline in shipments, weighed down by weak demand for enterprise PCs given its substantial presence in that market.
Apple’s shipments fell sharply compared to last year, partly due to a significant shipment increase in the third quarter of ’22 as supply disruptions that arose early last year due to the Chinese lockdown eased. In the third quarter of 2023, Apple’s shipments were in line with seasonal trends, driven primarily by demand from students and educators.
“The good news for PC makers is that the worst may be behind us by the end of 2023,” the analyst added. “The business PC market is poised for the next upgrade cycle, driven by the release of Windows 11. Demand for consumer PCs should also begin to recover as PCs purchased during the pandemic enter the early stages of the upgrade cycle.”
According to Gartner, the global PC market will grow 4.9% in 2024, with growth expected in both the business and consumer segments.
In the third quarter of 2023, the US PC market declined by 9.3%.
The decline in the American market was primarily caused by weak demand for corporate PCs. However, growth in Chromebooks, fueled by the need for replacements in educational institutions, has partially offset the decline.
The PC market in Europe, the Middle East, and Africa decreased by 3.6% compared to the previous year. Ongoing political unrest, inflationary pressures, and rising interest rates have driven PC demand to a new low, although the decline this quarter was less significant than the previous two quarters.
The Asia-Pacific PC market declined 13% year-on-year, led by a sharp 20% decline in China. In China, spending on consumer PCs remained low due to unemployment issues, while demand for enterprise PCs also slowed due to government spending cuts.
In India, the Directorate General of Foreign Trade (DGFT) announced new import restrictions on specific devices in August 2023 to boost local manufacturing. While the announcement caused minor disruption as some suppliers were forced to stop importing, an extension to the import deadline until November 2023 was announced shortly after. Imports have now resumed at normal levels. The decision to introduce any restrictions has been postponed to October 2024, which means that until the end of this year, the consequences for the Indian PC market will be minimal.