The Chinese company beat out Hewlett-Packard Co. in the third quarter, according to data collected by research house Gartner.
“Lenovo took the No. 1 position in worldwide PC shipments for the first time in the company’s history,” a Gartner press release stated. “In addition to acquiring other vendors, Lenovo has also taken an aggressive position on pricing, especially in the professional market.
“As a result, Lenovo has achieved significant market share gains over the last two years, exceeding regional average growth rates across all regions.”
Worldwide shipments of personal computers fell more than eight percent in the third quarter to 87.5 million, the sharpest drop since 2001, Gartner analysts said.
An ongoing slowdown in customer PC shipments played a significant role in the drop in the PC market, said Mikako Kitagawa, principal analyst at Gartner.
“Retailers were conservative in placing orders as they responded to weak back-to-school sales,” Kitagawa said. “By the end of September, retailers were focused on clearing out inventory in advance of the Windows 8 launch later this month. On the professional side, there was minimum impact from Windows 8 in the quarter because the professional market will not adopt Windows 8 PCs immediately after the release.”
Lenovo, which has a market value of $8.2 billion, said it believed there was room for continued growth in the sector.
“Becoming the clear leader in global PC share of course remains one of Lenovo’s aspirations, but it also only represents one more milestone in our journey as a company,” Lenovo chairman and CEO Yuanqing Yang said in a statement to Business Week. “In addition to localized sales and distribution teams in major markets, we are establishing an even stronger manufacturing footprint. We are setting our sights on delivering long-term, profitable growth, while leading the way forward into the PC+ era.”