Global PC shipments fell 15.5% YoY in Q3 2022 to reach 71.1 million units registering another wave of huge YoY declines after the severe annual and sequential drops in Q2, according to data from Counterpoint Research. The decline from Q3 2022 was largely due to demand weakness across both consumer and business markets, which was primarily driven by global inflation. Despite component shortage issues largely resolved, OEMs and ODMs have a relatively conservative view of Q4 2022 and first half of 2023.
As shown in the Counterpoint chart below, Apple was the only top five vendor that actually looked for an increase in PC shipments for the quarter. Counterpoint stated in its report that Apple reported a market-beating 7% YoY shipment growth amid muted market momentum, thanks to its new product launch in late Q2 with shipments replenished after the Chinese blockades in Q2 that disrupted ODM production schedules.
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As for the other PC vendors, the lull in PC demand continued in the quarter despite broad promotional activities by major OEMs, especially for consumer product lines. In addition, inventory digestion processes have been activated to address abnormally high levels as we enter the second half of the year. Although it is the season of peak sales of consumer devices, PC OEMs believe that the destocking process will continue in 2023. Based on our conversations with supply chain members, especially with component suppliers, the largest inventory numbers were in Q3 2022 and likely will begin to decrease. in coming quarters but there is uncertainty within the supply chain about when shipment growth will resume. For more, read Counterpoint’s full report.