Adani's $70 Billion Disaster Is Badly Timed For India's Economy
Billionaire Kwek Leng Beng's CDL In Talks To Buy Historic London Marina Complex From Blackstone
Billionaire Gautam Adani Gets $400 Million Investment From Abu Dhabi Firm, Share Sale Fully Subscribed
Gravarstar's Mecha-Inspired Earbuds And Speakers Are For Anime Fans
Asus Zenbook 17 Fold OLED Hands-On: Versatile Hardware A Glimpse Of Future
In A Win For Business, America And China Are Recoupling
Frasers Property Expands Singapore Footprint With $497 Million Suburban Mall Stake Purchase
Las Vegas Sands To Invest $6.8 Billion In Singapore, Macau Amid Asian Casino Boom
ForbesAsia
China Lockdowns, Inflation Fuel 15% Drop In Global PC Shipments
Russell Flannery
Jul 13, 2022, 01:56am EDT |
Healthcare workers in protective gear give residents their Covid-19 tests in Shanghai on Sunday. ... [+] Shanghai's Covid-19 cases continued to rise, prompting authorities to declare more high-risk areas and fueling fears that China's financial hub may tighten movement restrictions again. Photographer: Qilai Shen/Bloomberg
© 2022 Bloomberg Finance LP
Covid lockdowns in China and unchecked worldwide inflation in the second quarter of 2022 fueled a 15% drop in shipments of personal computers, research firm Canalys said today.
"The second quarter of 2022 brought major disruption to PC market, as Covid lockdowns in China stymied manufacturing," Canalys said in a statement. "Demand headwinds, especially from consumers, have also ramped up as inflation remains unchecked in many of the world's largest PC markets."
Total shipments of desktops and notebooks fell 15% year-on-year to 70.2 million units, the lowest level since a similar disruption occurred in the first quarter of 2020, Canalys said.
Lenovo kept first place in the worldwide PC market, though its shipments fell 12% to 17.5 million units in the three-month period. HP's shipments, hurt by a poor comparison to its strong education shipments last year, plunged by 28% to 13.5 million units. Dell was close behind HP in third place, posting a relatively modest decline of 5% to settle at 13.2 million units and increasing its market share by two percentage points compared with a year ago, Canalys said. Acer and Asus completed the top five, with declines of 19% and 5% respectively, it noted.
Covid's effects continue to create economic uncertainty over the industry this quarter after wreaking havoc in the April-June period, Canalys noted.
"Covid lockdowns in key regions and cities of China throughout most of (the second quarter) severely affected the manufacturing and export of PCs," said analyst Emma Xu. "Disruption to factory and port operations in Shanghai, Kunshan and Jiangsu led to significant delays in orders for all the major PC vendors. Though production and coordination started to improve by the end of May, output was below normal levels," in the second quarter, she said.
"In addition, restrictions on the movement of people and goods and a reduction in business activity caused a sharp downturn in domestic purchasing in China, the world's second-largest PC market. While indicators for consumer and commercial spending improved in June, the overall economic situation remains uncertain as the government's zero-Covid policy remains in place," Xu said.
See related posts:
China's Unpredictability Is "Poisonous" For Its Business Environment — EU Chamber
Lenovo Adds HTC Chairwoman Cher Wang To Board Of Directors
Shanghai's Qiming Venture Partners Raises $3.2 Billion of New Funds
Luster LightTech Listing Adds China's Newest Billionaire
@rflannerychina