PC Shipments Grew 6.7 Percent in 1Q25

Global PC shipments grew 6.7% in the first quarter of 2025 to reach 61.4 million units, according to Counterpoint Research. The growth was mainly driven by PC vendors accelerating shipments ahead of US tariffs and the increasing adoption of AI-enabled PCs amid the end of Windows 10 support. However, this surge may be short-lived, as inventory levels are likely to stabilize in the next few weeks. The impact of the US tariffs is expected to dampen the growth momentum in 2025.

Apple and Lenovo delivered strong performances in the quarter, largely due to new product launches and market dynamics. Apple experienced 17% growth in shipments, driven by its AI-capable M4-based MacBook series. Lenovo’s 11% growth reflected its expansion into AI-enabled PCs and its diversified product portfolio. Lenovo remained the brand with the largest market share during the quarter. HP and Dell, on the other hand, benefited from the US market pull-ins during the quarter, with 6% and 4% growth, respectively, and maintained their second and third places in Q1. The pull-ins also happened for other major brands ahead of the tariff uncertainty, leading to the market share further consolidating around major brands.

“Going forward, competitive dynamics will be shaped by OEMs’ ability to diversify their supply chains and manufacturing bases, in addition to positioning themselves to offer the best AI PC experiences by striking key ecosystem partnerships, from silicon to software to model vendors,” said William Li, Senior Analyst at Counterpoint Research. The global PC manufacturing landscape remains predominantly centered in China, posing significant challenges for the industry in mitigating tariff risks in the near term. Despite recent US exemptions removing tariffs on laptops, uncertainty persists as the Trump administration is planning to impose new duties on semiconductors and other tech products within the next quarter.

Counterpoint Research expects laptop ODMs (original design manufacturers) and EMS (electronics manufacturing services) will continue to accelerate the shifting of manufacturing from China to other countries, such as Vietnam, India, and Mexico, despite these countries also facing different levels of tariffs. The top priority for PC vendors is to shift manufacturing of all products destined for the US market to non-China manufacturing lines. Overall, US tariff policies have caused uncertainty in the PC industry in 2025, with manufacturers facing escalating costs and potential supply and demand contraction. While temporary exemptions on certain electronic devices like smartphones and laptops have provided temporary relief, the expected US tariffs on semiconductors threaten to disrupt supply chains and dampen demand and investment in AI infrastructure and devices.

“The US market remains the most important market for AI PCs to demonstrate their capabilities and the best market to sell advanced AI-enabled devices. High tariffs, or tariff policy uncertainties, will likely discourage consumers or enterprises from buying new devices with additional costs, which in turn will suppress growth and increase penetration. The lingering global economic uncertainty will also pose a downside risk to our forecast of a mid-single-digit YoY shipment growth of the PC market in 2025,” said David Naranjo, Associate Director at Counterpoint Research.