Lenovo overtakes HP in PC sales as market contracts
Overall worldwide PC sales declined for both the fourth quarter and year in 2018, while Lenovo Group Ltd. and Dell Technologies Inc.'s share of the market grew, according to research firm Gartner on Thursday. Global PC sales fell 4.3% to 68.6 million units in the fourth quarter, and 1.3% to 259.4 million in 2018, Gartner said. "Just when demand in the PC market started seeing positive results, a shortage of CPUs (central processing units) created supply chain issues," said Mikako Kitagawa, senior principal analyst at Gartner, in a statement. "After two quarters of growth in 2Q18 and 3Q18, PC shipments declined in the fourth quarter." Market share for Lenovo and Dell grew, however. Lenovo's market share grew to 24.2% from 21.9% in the fourth quarter, and to 22.5% from 20.8% for the year, overtaking HP Inc. for the top spot over both periods. Dell retained its third-place standing while its market share grew to 15.9% from 15% for the fourth quarter, and 16.2% from 15.1% for the year. Sales of Apple Inc. PCs remained in fourth place while market share rose fractionally to 7.2% for the quarter and declined fractionally to 6.9% for the year. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.