PC Market Slips 4% in Q2 2026 as Memory Shortages Push Prices Higher
The global PC market lost momentum in Q2 2026 as rising memory costs and ongoing DRAM shortages weighed heavily on demand. According to the latest market data from Counterpoint Research, worldwide PC shipments fell 4% year over year to 65 million units, ending the growth streak that began in Q1 2025.
The decline highlights how deeply the memory supply crunch is affecting the technology industry. PC makers are facing higher component costs, and those increases are being passed along through more expensive laptops, desktops, and workstations. As prices climb, consumers are becoming more cautious, especially in the mainstream and entry-level PC segments.
Memory Shortages Are Reshaping the PC Industry
The biggest pressure point for PC manufacturers remains DRAM pricing. Memory prices have more than doubled, creating challenges not only for PC brands but also for smartphone and console makers. With supply tight and demand from AI companies continuing to surge, traditional consumer electronics categories are being squeezed.
This comes at a time when the PC industry has been introducing several new platforms, including systems powered by Intel’s latest 18A Core Series 3 chips, refreshed AMD Ryzen processors, and Apple’s new MacBook Neo lineup. However, even strong product launches have not been enough to fully offset the impact of higher prices.
For many buyers, especially consumers and small businesses, the cost of upgrading has become harder to justify. As a result, PC makers are shifting their attention toward premium devices, particularly AI PCs, where advanced performance and on-device AI features can better support higher price tags.
Lenovo Leads the Market Despite Shipment Decline
The top five PC vendors controlled 78% of the global market in Q2 2026. Lenovo remained the market leader with a 25.6% share, shipping 16.6 million units. However, even Lenovo was not immune to the broader slowdown, posting a 2% year-over-year decline.
Lenovo’s large purchasing scale and strong supply chain relationships helped soften the impact of the memory shortage. Its position as the largest PC manufacturer gives it more flexibility when managing component costs, but the overall market weakness still affected its shipment numbers.
HP and Dell See Larger Drops
HP held second place with a 20% market share but suffered the steepest decline among the top three PC makers. Its shipments fell 8% year over year, largely because HP has strong exposure to mainstream consumer PCs and mid-range enterprise devices. These categories are particularly sensitive to price increases caused by more expensive components.
Dell also recorded a decline, with shipments dropping 6% year over year. The company’s commercial-focused business helped protect it from a sharper fall, as enterprise customers continue to spend on IT upgrades. However, Dell still faced pressure from rising memory and storage costs, along with slower demand across certain business segments.
Apple and ASUS Buck the Downtrend
While most major PC brands saw shipments decline, Apple and ASUS managed to grow in Q2 2026.
Apple posted the strongest performance among the top vendors, with shipments rising 13% year over year. The launch of the MacBook Neo played a major role in that growth, helping Apple expand its market share to 10.5%. The company’s premium positioning also helped it weather the pricing pressure better than brands that rely more heavily on budget and mid-range systems.
ASUS also delivered a positive quarter, growing shipments by 4% and reaching a 7.4% market share. The company benefited from its quick adoption of new processor platforms and its aggressive push into AI PC designs. From mainstream Vivobook models to high-end ProArt systems, ASUS has been targeting buyers interested in performance, creativity, and emerging AI features.
AI PCs Become a Key Growth Opportunity
The PC market is increasingly moving away from low-cost systems and toward premium AI-powered devices. This shift is being driven by both necessity and opportunity.
With component costs rising, manufacturers are looking for product categories where higher prices are easier to justify. Premium AI PCs fit that strategy because they offer stronger performance, better efficiency, and local AI processing capabilities. These features appeal to professionals, creators, enterprises, and early adopters who are willing to pay more for advanced functionality.
Counterpoint Research Associate Director David Naranjo said the memory shortage has moved beyond being a temporary supply issue and is now changing the direction of the PC industry. He noted that higher component costs will push manufacturers toward premium AI PCs, where better performance and on-device AI features make higher pricing more acceptable. Enterprise demand is expected to remain relatively strong due to Windows upgrade cycles and expanding AI adoption, while consumer demand may stay limited until component costs decline.
PC Recovery Could Take Years
The outlook for the PC market remains challenging. Memory and storage prices are expected to rise by more than 50% in the coming months, which could create additional pressure on both manufacturers and buyers.
The shortage may not ease quickly. Some memory producers have warned that tight supply conditions could persist for years, while others expect DRAM shortages to become even more severe over the next year. A major reason is the rapid growth of AI infrastructure, which requires massive amounts of high-performance memory.
Although leading memory suppliers are expanding capacity, much of that future supply is already tied up in long-term agreements with AI companies. That means consumer PC makers may not see meaningful relief anytime soon.
The key takeaway is clear: the PC market is entering a new phase where value, performance, and AI capabilities matter more than shipment growth. For buyers, this could mean higher prices and fewer bargains in the short term. For manufacturers, success will depend on how well they can manage component costs while convincing customers that premium AI PCs are worth the upgrade.
