Lenovo rises to top of PC maker rankings as market slumps
Published on Jul 11, 2013 4:06 PM
SAN FRANCISCO/SINGAPORE (REUTERS) - China's Lenovo Group Ltd unseated Hewlett-Packard as the world's top PC maker in the latest quarter - a quarter which saw global shipments tumble 11 per cent from a year earlier due to spectacular growth in tablets and smartphones.
It was the fifth straight quarter of decline and analysts expect PC shipments to continue to fall, albeit at a slower pace as companies upgrade to Windows 8 and buy laptops that can be separated from keyboards to become tablets.
Lenovo now commands 16.7 per cent of the world's personal computer market, up from 15.3 per cent in the previous quarter according to research firm IDC. It has spent heavily over the past few years to bolster its PC business with purchases such as Brazilian electronics maker CCE last year, Germany's Medion in 2011 and IBM's PC business in 2005.
As smaller vendors lost share, HP also rose, climbing to 16.4 per cent from 15.7 per cent. But the US firm has ceded ground to Lenovo as it grappled with numerous changes in executive leadership in recent years, leading to strategic mistakes, analysts said.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here