Lenovo Topped the Market Rankings in Q3 2023

According to Canalys’ latest data, the worldwide PC market posted another sequential improvement in Q3 2023. While total shipments of PCs amounting to 65.6 million units were down 7% year-on-year, they rose 8% compared to Q2 2023. This represents the smallest annual shipment decline for the industry in over a year and is a further sign of recovery in both inventory levels and underlying demand. Shipments of notebooks dropped 6% annually to 52.1 million units, while desktop shipments were down 8% to 13.5 million units. 

Lenovo topped the market rankings in Q3 2023, shipping 16.0 million units and posting a relatively modest annual decline of 4%. Second-placed HP enjoyed another quarter of growth, with its shipments up 7% annually to 13.5 million units. Dell took the third spot, undergoing a heavier shipment decline of 14%. Fourth-placed Apple posted the largest year-on-year drop in shipments, down 29% to 6.4 million units. However, this was largely driven by the comparison to a strong quarter last year, when it was able to fulfill pent-up demand following supply chain disruptions. Asus rounded out the top five vendors, shipping 4.9 million units. 

IDC Quarterly PC Device Tracker reported PC inventory has also become leaner in the past few months and is near healthy levels in most channels. However, downward pressure on pricing persists and will likely remain an issue within the consumer and business sectors. While most of the top 5 vendors experienced double-digit declines during the quarter, Apple's outsized decline was the result of unfavorable year-over-year comparisons as the company recovered from a COVID-related halt in production during 3Q22. Meanwhile, HP's growth was largely due to the normalizing of inventory.