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Global notebook shipments enjoyed a further resumption in the third quarter of 2023, but will fall sequentially in the fourth quarter.
Abstract
Global notebook shipments performed better than expected in the third quarter of 2023. After enjoying an over 20% sequential increase in the second quarter, the volumes went up further by 2.1% in the third, but the shipments will then slip 7.3% in the fourth quarter due to high channel inventory and a high comparison base in the third quarter.
The shipment growth in the third quarter was driven by brand vendors' keen digestion of consumer model inventory and robust order pull-ins from the retail channel for the year-end holiday season, helping to offset the shipment decline in the enterprise and education sectors.
Dell and Lenovo are expected to achieve better performances among the global top-6 brands in the fourth quarter. Lenovo, after becoming the largest notebook brand in the third quarter, will maintain its leading position in the fourth quarter, seeing only a minor sequential shipment decline, with its key markets Europe and China both recovering.
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