2025.12.22 本文字数：1056，阅读时长大约2分钟 作者 |第一财经 刘佳 上述供应链人士表示，能否稳定拿到存储芯片，正在成为决定PC厂商留在牌桌的关键变量。"具备规模 优势和长期采购协议的头部厂商仍能维持相对稳定的供货；但对资金实力有限、采购规模较小的中小型 PC厂商来说，问题要严峻得多，它们正遭遇有钱也拿不到货的困境。当前主流存储厂商优先保障长期 大客户的订单，中小客户的订单要么被延后，要么被迫接受更高价格和更不稳定的交付周期。" IDC 预计，明年全球个人电脑出货量将下降 4.9%，同时该机构也给出提示：若未来内存供应状况进一 步恶化，出货量跌幅或将扩大。相较于主打组装机的本土厂商，大型原始设备制造商（OEM）有望抢 占更多市场份额。 微信编辑| 小羊 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。专 用邮箱：bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 该人士没有透露这家头部PC厂商具体为哪一家，但行业分析人士认为，当前最有可能具备此议价能力 的两家企业是联想集团或惠普。联想集团PC业务在最新一个季度的全球 ...

Group 1 - A leading global PC manufacturer has been visiting major memory chip suppliers like Samsung, SK Hynix, and Micron to secure supply agreements amid a significant price surge in the memory chip market, the most severe in five years [1] - The two most likely candidates for this leading PC manufacturer are Lenovo Group and HP, with market shares of 25.5% and 19.8% respectively in the latest quarter [1] - Morgan Stanley reported that DRAM spot prices have surged over 260% in just two months, while NAND flash prices have increased by over 50% since early 2025, leading to potential cost pressures for PCs in 2026 [1] Group 2 - The PC industry is facing a price surge across the entire supply chain due to a "super cycle" in memory supply, with major manufacturers like Lenovo, Dell, HP, Acer, and Asus warning of price increases of 15%-20% for end-user PCs [2] - Companies are preparing to renegotiate contracts, with Dell's COO noting the unprecedented speed of memory chip cost increases, and HP's CEO indicating readiness to raise prices if necessary [2] - IDC forecasts a 4.9% decline in global PC shipments next year, with the potential for further declines if memory supply worsens, favoring large OEMs over smaller manufacturers [2]

Core Viewpoint - A leading global PC manufacturer has been actively visiting major memory chip suppliers, including Samsung, SK Hynix, and Micron, to secure supply agreements amid a significant price surge in the memory chip market over the past five years [1] Group 1: Market Dynamics - The price of DRAM has surged over 260% in just two months, while NAND flash prices have increased by over 50% since early 2025 [1] - Memory components account for 15%-20% of the bill of materials (BOM) cost for laptops, and the recent price hikes may lead to significant cost pressures for PCs in 2026 [1] Group 2: Company Responses - Lenovo's CFO indicated that the company has a 50% higher inventory of components due to increased demand for memory chips driven by AI data centers and cloud hardware [2] - Major PC manufacturers, including Lenovo, Dell, HP, Acer, and Asus, are warning of a price increase of 15%-20% for PC end products and are restarting contract negotiations [2] - Dell's COO noted the unprecedented speed of memory chip cost increases, while HP's CEO stated the company is prepared to raise prices if necessary [2] Group 3: Supply Chain Challenges - The ability to secure memory chips is becoming a critical factor for PC manufacturers to remain competitive, with larger firms benefiting from scale and long-term contracts [2] - Smaller PC manufacturers are facing severe challenges, as they may struggle to obtain supplies even if they have the funds, leading to delayed orders or acceptance of higher prices [2] - IDC forecasts a 4.9% decline in global PC shipments next year, with potential for further declines if memory supply conditions worsen [2]