https://www.techpowerup.com/321783/pc-market-returns-to-growth-in-q1-2024-with-ai-pcs-to-drive-further-2024-expansion
 
Global PC shipments grew around 3% YoY in Q1 2024 after eight consecutive quarters of declines due to demand slowdown and inventory correction, according to the latest data from Counterpoint Research. The shipment growth in Q1 2024 came on a relatively low base in Q1 2023. The coming quarters of 2024 will see sequential shipment growth, resulting in 3% YoY growth for the full year, largely driven by AI PC momentum, shipment recovery across different sectors, and a fresh replacement cycle.

Lenovo's PC shipments were up 8% in Q1 2024 off an easy comparison from last year. The brand managed to reclaim its 24% share in the market, compared to 23% in Q1 2023. HP and Dell, with market shares of 21% and 16% respectively, remained flattish, waiting for North America to drive shipment growth in the coming quarters. Apple's shipment performance was also resilient, with the 2% growth mainly supported by M3 base models.
 
We view 2024 as the first chapter of the AI PC (including desktops and laptops), as 45% of the new laptops shipped during the year will be AI-capable. Commenting on generative AI laptops, Senior Analyst William Li said, "We believe the shipment and deployment of generative AI laptops will accelerate in 2025-2026, along with emerging generative AI functions and use cases, supported by chip vendors' new processor platforms."

Against the backdrop of normalizing inventory levels and the end of the replacement cycle following skyrocketing demand in both enterprise and consumer segments amid the COVID-19 pandemic, we believe AI laptops could act as a catalyst in driving the overall PC shipment recovery in 2024. Manufacturers are expected to start promoting AI PCs as their main products in the second half of 2024 as semiconductor companies prepare to launch SoCs featuring higher TOPS.
 
Hopefully the end of the PC slump is near.