Inflation and global economic uncertainty contributed to lower demand for consumer electronics, including personal computers, last year and led to higher inventories across the supply chain.

“While we expect continued quarter-over-quarter growth in the fourth quarter, the external environment has not improved as rapidly as we expected, so we adjusted our forecasts,” said HP CEO Enrique Lores. expected.”

Shipments of personal computers, which include desktops, notebooks and workstations, have fallen 19% in China over the past few months, according to analytics firm Canalys.

“We don’t think (the recovery in the Chinese market) is going to happen anytime soon. And at the moment, we don’t have that recovery in any of our plans,” Loures added.

HP now expects adjusted earnings per share of $3.23 to $3.35, compared with a previous forecast of $3.30 to $3.50.

The company’s third-quarter revenue fell 9.9% year-on-year to US$13.2 billion, which was lower than analysts’ expectations of US$13.37 billion.

However, the company delivered adjusted earnings of 86 cents a share, in line with analysts’ expectations, by controlling costs. Total costs and expenses were also down 8.6% compared to the same period last year. The company said it remains on track to achieve its three-year cost savings target of 40% by the end of the fiscal year.

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Canalys said tablet shipments remained resilient in the fourth quarter, up 1 percent year-over-year to 42.3 million units, for a total of 150 million units shipped by the end of 2022, down 5 percent compared to 2021.

In addition, Chromebook laptop shipments reached 3.6 million units in the fourth quarter of 2022, down 10 percent year-over-year. full-year shipments reached 17.7 million units in 2022, down a whopping 48 percent compared to the peak of shipments in 2021.

The report noted that after three consecutive quarters of decline, global tablet shipments grew, with a modest 1 percent year-over-year increase in the fourth quarter of 2022.

Apple, thanks mainly to the launch of the new generation of the M2 iPad, remains at the top of the market, with shipments reaching 19 million units and a global market share of 46%.

Samsung ranked second with 7.6 million units shipped, up 10 percent and with an 18 percent market share.

Amazon shipped 3.5 million units, down 10 percent year-on-year, ranking third.

Lenovo and Huawei ranked fourth and fifth with declines of 51 percent and 36 percent, respectively.

Total shipments of other vendors grew a modest 4 percent.

In terms of Chromebook laptop shipments.

HP topped the list and was the only vendor to achieve growth in Q4 2022, with shipments up 117 percent year-over-year to more than 1 million units.

Acer’s shipments fell 22 percent to 710,000 units in the fourth quarter, placing it second.

The rest of the top five companies remained unchanged from the third quarter of 2022, with Lenovo in third place with 550,000 units shipped, down 27 percent.

Dell and Asus ranked fourth and fifth, down 25 percent and 37 percent, respectively.

Overall, in the fourth quarter of 2022 in the PC market (including desktops, notebooks and tablets).

Apple ranked first with 25.5 million units shipped, up 5 percent year-over-year, expanding its market share to 24 percent.

Lenovo came in second, giving way to Apple from a year ago, with 17.9 million units shipped, down 32 percent year-over-year.

HP and Dell ranked third and fourth with 13.2 million and 10.9 million units shipped, respectively.

Samsung ranked fifth with shipments of 8.3 million units, up 6 percent year-over-year, supported by growth in tablet PCs.

Reference

Tablet shipments buck the trend in Q4 2022 amid macroeconomic challenges

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