According to research house Gartner, Lenovo has managed to oust HP as the world's biggest PC manufacturer. The numbers from Gartner indicates that Lenovo now has a market share of about 15.7%, leaving HP with 15.5%.
Lenovo's rise highlights the advance of China's technology firms on the world stage in recent years thanks to a combination of aggressive pricing, overseas acquisitions and taking advantage of a fast-growing home market.
That's good news for Lenovo, which celebrated its rise to the second spot around the same time last year. However, according to data from Gartner's rival IDC, HP still retains its top position with 15.9% versus Lenovo's 15.7%.
What both research companies can agree on however, is that overall global PC shipments have fallen by 8%. Data from both companies also show that while the PC industry is facing a downturn, Asian PC vendors (Lenovo, Acer and ASUS) are chipping away at the market shares of U.S. vendors like Dell and HP.
"PCs are going through a severe slump," said Jay Chou, senior research analyst at IDC's Worldwide PC Tracker. "The industry had already weathered a rough second quarter, and now the third quarter was even worse. "He added that the industry was also struggling to find a product that may help it turn around its fortunes.