Core Insights - The global PC market is experiencing a 7.4% year-on-year growth in Q2 2025, with total shipments reaching 67.6 million units, driven primarily by commercial PC deployments ahead of the Windows 10 service termination [1][4] - Consumer demand remains weak due to macroeconomic uncertainties, influenced by the evolving tariff policies of the Trump administration, which have created significant uncertainty in the market [1][2] Market Performance - In Q2 2025, notebook shipments (including mobile workstations) reached 53.9 million units, growing by 7%, while desktop shipments increased by 9% to 13.7 million units [1] - Lenovo maintained its leadership in the global PC market with shipments of 17 million units, a year-on-year increase of 15.2% [4][5] - HP followed with 14.1 million units shipped, reflecting a growth rate of 3.2%, while Dell's shipments decreased by 3% to 9.8 million units [4][5] - Apple saw a significant growth of 21.3%, with shipments reaching 6.4 million units, capturing a market share of 9.4% [4][5] - ASUS ranked fifth with shipments of 5 million units, marking an 18.4% increase [4][5] Supply Chain Dynamics - The evolving tariff policies are reshaping the global PC supply chain, with a notable shift in US PC imports from China to Vietnam to avoid potential tariffs [2] - Recent trade agreements between the US and Vietnam impose a 20% tariff on Vietnamese goods and up to 40% on "transshipped" products, complicating the supply chain further [2] - The ambiguity surrounding the enforcement standards raises concerns about cost stability for market participants, as products made in Vietnam using Chinese components may be subject to higher tariffs [2] Consumer Behavior - The impending termination of Windows 10 services is expected to stabilize the market, particularly benefiting commercial device upgrades, while consumer purchasing decisions are likely to be delayed due to economic uncertainties [4] - A survey indicated that over half of channel partners expect their PC business to grow year-on-year in the second half of 2025, with 29% anticipating growth exceeding 10% [4]