What Does Q2 Reveal About the Direction of the Global PC Market?

Core Insights - The global PC market experienced a 6.5% year-over-year increase in shipments, totaling 68.4 million units in Q2 2025, marking the seventh consecutive quarter of growth [1][2][9] - The growth was primarily driven by the replacement of older PCs and the transition to Windows 11 as Windows 10 approaches its end of support in October 2025 [3][8] Shipment Dynamics - While U.S. PC shipments were muted due to impending import tariffs, global demand remained strong, particularly for PCs with on-device AI capabilities [4][7] - Commercial upgrades and the phase-out of Windows 10 were significant factors contributing to the rise in shipments [9] Vendor Performance - Lenovo maintained its market leadership with 17 million shipments and a 24.8% market share, an increase from 23% year-over-year [5] - HP Inc. followed with 14.1 million shipments (up 2.9% year-over-year) and a 20.7% market share, while Dell Technologies saw a decline in shipments to 9.8 million units [5] - Apple achieved the highest growth among top vendors, with shipments rising 21.6% to 6.2 million units, resulting in a 9.1% market share [6] Market Outlook - The introduction of new tariffs by the U.S. government has created uncertainty in the PC market, with expectations of rising prices, although some companies may offer discounts to clear inventory [7][8] - The AI PC market presents a potential growth opportunity that could positively impact overall PC shipments [7][9]