Despite weaker demand in China and Europe, PC shipments worldwide rose 1% YoY in Q3 2024, driven by replacement demand and AI PC sales.
The global PC market saw a 1% year-on-year (YoY) increase in shipments during Q3 2024, reaching 65.3 million units, according to Counterpoint Research. This growth continues the positive trend established in Q1 2024.
As per the report, despite experiencing a lull in demand in regions like China and Europe, overall shipments were approximately 5% higher than in Q2 2024 (quarter-on-quarter). The ongoing demand for replacements, particularly due to the impending end of Windows 10 security updates and support in 2025, along with rising sales of AI-enabled PCs, significantly contributed to this increase.
With inventory levels stabilising in the first half of 2024, PC manufacturers are eager to roll out new models. Lenovo achieved its fourth consecutive quarter of YoY shipment growth in Q3, regaining a 25% market share since Q4 2020, primarily due to the replacement cycle trend.
HP and Dell also performed well, buoyed by strong demand in the North American market and increased enterprise orders. Meanwhile, Apple remained relatively quiet as the market anticipated the launch of its new M4-based laptops and desktops, including the much-anticipated M4 MacBook Pro featuring a 10-core CPU, expected in Q4.
Senior Analyst William Li highlighted a growing interest in GenAI PCs, especially laptops, following the release of new CPU platforms from AMD and Intel. However, he stated, “People are still looking at killer applications of the AI PC to add value to their day-to-day missions, which we believe will likely happen in the short term and boost shipment growth.”
The report noted that since 2021, Q3 has struggled compared to pre-Covid levels, influenced by shifts in work environments and enterprise procurement strategies. This time, as demand for Windows 10 replacements decreases, AI PCs are poised to drive future growth, with the holiday season likely maintaining a positive trend and contributing to a 2% year-to-date shipment increase.
