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Another Lackluster Quarter For PC Sales, Says Gartner

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Another Lackluster Quarter For PC Sales, Says Gartner
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According to a report by Gartner, worldwide PC shipments fell 9.6 percent during the first quarter of 2016.

Gartner elaborated that total worldwide PC shipments in the first quarter came in at 64.8 million units, marking the sixth consecutive quarter of PC shipment declines.

PC shipments dropped below the 65 million mark for the first time since 2007, Gartner added, while attributing the poor sales to the deterioration of currencies versus the US dollar.

"All major regions showed year-over-year shipment declines, with Latin America showing the steepest drop, where PC shipments declined 32.4 percent. The Latin American PC market was intensely impacted by Brazil, where the problematic economy and political instability adversely affected the market, said Mikako Kitagawa, principal analyst at Gartner.

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"The ongoing decline in U.S. PC shipments showed that the installed base is still shrinking, a factor that played across developed economies. Low oil prices drove economic contraction in Latin America and Russia, changing them from drivers of growth to market laggards."

A Few Names

Lenovo Group Limited (ADR) (OTC: LNVGY) held on to the number one spot in worldwide PC shipments despite a 7.2 percent drop in shipments. The China-based company delivered 12,484 units and saw its market share grow from 18.8 percent a year ago to 19.3 percent.

HP Inc (NYSE: HPQ) shipped 11,408 units in the quarter, a 9.0 percent year-over-year decrease. The company's market share improved slightly to 17.6 percent from 17.5 percent.

Dell Inc. and Asus ranked third and fourth, respectively.

Apple Inc. (NASDAQ: AAPL) saw its shipments increase 1.0 percent from a year ago to 4,611 units. The company's market share also improved to 7.1 percent from 6.4 percent.

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DateFirmActionFromTo
Oct 2016Goldman SachsMaintainsBuy
Oct 2016Credit SuisseMaintainsOutperform
Oct 2016PiperJaffrayMaintainsOverweight

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