Canalys称，本季度的增长主要得益于Windows 10服务即将终止前的大规模商用PC部署。 从市场份额上，2025年第二季度联想以25.1%，稳居第一，且相比2024年第二季度的23.4% ，份额提升 了 1.7个百分点。排名第二的惠普市场份额为20.9% （2024年第二季度21.7%），同比微降0.8个百分 点；排名第三的戴尔市场份额为14.5%（2024年第二季度16.0%），同比下滑1.5个百分点。联想成为全 球TOP 3厂商中，唯一份额保持增长的厂商。 近日，Canalys发布了2025年第二季度全球PC出货量数据：台式机、笔记本电脑和工作站的总出货量同 比增长7.4%，达到6760万台。其中，笔记本（包括移动工作站）出货量达5390万台，同比增长7%；台 式机（包括台式工作站）出货量增长9%，达到1370万台。 | 全球台式机和笔记本出货量(市场份额和年增长率) | | | | | | | --- | --- | --- | --- | --- | --- | | Canalys PC 市场分析统计数据: 2025年第二季度 | | | | | | | 2025 年 | | 2025 年 | ...

Group 1 - The core viewpoint is that the AI notebook market in China is rapidly expanding, with shipments of laptops featuring 40TOPS and above NPU capabilities reaching 241,000 units in Q1 2025, representing 5.3% of the total notebook market, up from 1.4% in the previous quarter [1] - The growth of AI notebooks is driven by a combination of government policies, product enhancements, and increasing consumer demand, particularly from the Z generation and businesses undergoing digital transformation [3] - Lenovo has established a strong position in the AI PC market, achieving double-digit revenue growth in its Intelligent Devices Group (IDG) during the 2024/2025 fiscal year, with a market share of 23.7% in the PC segment [5] Group 2 - Lenovo's AI PC products have significantly outperformed sales targets, leading the global market in the Windows AI PC category, with AI PCs accounting for 16% of Lenovo's total notebook sales in China during the fourth fiscal quarter [5] - Several investment banks have issued positive reports on Lenovo Group, highlighting its growth potential in the AI PC and AI server sectors, with target prices set between 11.4 and 15 HKD, reflecting a favorable valuation compared to industry averages [6] - Analysts believe that Lenovo's PC business will benefit from increased AI PC penetration and the demand for Windows 10 upgrades, while its server business is expected to achieve profitability due to optimized customer structures and enhanced global capacity flexibility [6]