This was the sixth consecutive quarter of contraction brought on by macroeconomic headwinds, weak demand from both the consumer and commercial sectors, and a shift in IT budgets away from device purchases.
Weak demand, excess inventory, and a worsening macroeconomic climate were all contributing factors for the precipitous drop in shipments of traditional PCs during the first quarter of 2023 (1Q23).
While PCs remain in extremely high demand, the growth rate benefitted from the shortages faced in the first quarter of 2020 when the global pandemic began, resulting in an unusually favorable year-over-year comparison.
