HP Projects PC Volume Decline While Holding 21.5% Global Market Share
HP now expects PC unit volumes to fall in fiscal 2026, with only slight revenue growth driven by higher-spec configurations as the Windows 11 upgrade boost fades in the second half. Industry data shows HP holds a 21.5% share of global PC shipments, ranking second behind Lenovo’s 27.2%.
1. HP's Fiscal 2026 PC Volume Outlook
HP now expects PC unit volumes to fall in fiscal 2026, forecasting only slight revenue growth from higher-spec configurations rather than increased unit sales. Management attributes the slowdown to the waning Windows 11 upgrade cycle, which provided a temporary uplift in demand earlier in the year.
2. HP's Market Position and Competition
Global PC shipments reached 71.5 million units in Q4 2025, up 9% year over year, with HP capturing a 21.5% market share behind Lenovo’s 27.2%. HP faces intensifying competition as rivals and new product cycles, such as Apple’s M5-based MacBooks, vie for market growth.