Nobody anticipated that global PC sales would plummet by more than 20% in the third quarter of 2026.

Data from IDC reveals that only 62.7 million PCs were sold worldwide during this period, marking a substantial 20.1% year-on-year decrease, with 15.8 million fewer units sold compared to the previous year. Sales also dropped by 9.1% compared to the previous quarter, setting a new low for over ten years.

What's even more intriguing is that all five of the leading manufacturers witnessed a decline, with none achieving growth. It has indeed turned into a 'race to the bottom' to see which company performs the poorest.

The chart above illustrates the year-on-year sales changes for the top five manufacturers in the third quarter, as reported by Counterpoint.

As evident, Lenovo's sales decreased by 23%, HP's by 31%, Dell's by 25%, Apple's by 11%, ASUS's by 7%, and other brands collectively saw a 16% drop, totaling a 21% decline. This aligns closely with IDC's data, thereby cross-verifying the accuracy of each other's figures.

There's likely no need to delve deeply into the reasons behind the sharp decline in PC sales—it's primarily due to memory chips. For computers, DDR memory and SSD hard drives are indispensable components.

Presently, the prices of both memory and flash storage have surged by an average of four to five times, increasing the cost of a computer by hundreds or even thousands of dollars. Consequently, manufacturers have been compelled to raise prices, leading to a natural downturn in sales. After all, regardless of one's financial standing, everyone is inherently sensitive to prices when making purchases.

What's even more worrisome for these PC manufacturers is that there are no indications of memory chip prices stabilizing; they are projected to continue climbing, albeit not as steeply as before.

Analysts predict that prices will keep rising until 2028. Therefore, they anticipate that global PC sales will reach another all-time low in the fourth quarter of 2026, with an expected 27% decline, hitting rock bottom and dispelling any hopes of a peak sales season.

Thus, it's probable that the next quarter will also witness a 'race to the bottom,' where no manufacturer is expected to fare well. The focus will shift to identifying which company suffers the most, determining the manufacturer in the direst straits, and observing who experiences a relatively smaller decline and thus endures less hardship.

However, Counterpoint also points out that if PC manufacturers innovate with superior products and adopt differentiated product strategies, they may be able to capitalize on new opportunities. After all, every crisis presents an opportunity in disguise.