In the first quarter of 2023, HP Inc. solidified its position as the number one PC brand in India, showcasing an impressive performance in both the consumer and commercial segments. HP Inc. demonstrated its strength in the consumer market by offering a diverse range of PC products that catered to the evolving needs of Indian consumers. Furthermore, HP Inc.'s success extended to the commercial segment, where it excelled in providing reliable and efficient PC solutions to businesses of all sizes. By consistently delivering innovative and high-quality products, HP emerged as the frontrunner in the Indian PC market.
Vickram Bedi, Senior Director (Personal Systems) HP India, “We are happy to share that HP Inc. led the market with a share of 33.8% in 1Q23 with a strong showing in both the consumer and commercial segments. We sincerely thank our customers and partners for their unwavering trust in HP, which has allowed us to maintain our leadership in India's PC market. We take immense pride in equipping our customers with the tools they need to stay digitally connected, whether for work, learning, leisure, or entertainment. Given our leadership across both consumer and commercial segments, it brings us great satisfaction to be able to provide this support when they need it the most.”
He further added, “With the shift towards hybrid work, PCs have become essential tools for staying connected and productive. As the dependence on PCs continues to grow, we at HP remain committed to focusing on consistent, insights-based innovation and developing products that deliver the best-in-class experience for users across all segments”.
However, the India traditional PC market, inclusive of desktops, notebooks, and workstations, continued to drop shipping only 2.99 million units, a decline of 30.1% year-over-year (YoY) in 1Q23 (Jan-Mar), according to new data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. In 1Q23, while the demand for desktops was positive, the notebook category witnessed another weak quarter as it declined by 40.8% YoY. The consumer segment declined by 36.1% YoY primarily due to slowing demand and low market sentiment, and the commercial segment declined by 25.1% YoY due to reduced/delayed procurement by enterprises and SMEs.
“Channel partners across tiers for almost all vendors have been carrying heavy inventory for the last two quarters. Hence, shipments in the consumer segment decreased significantly in 1Q23 as they focused on clearing off aging inventory. The consumer market is expected to gradually recover from June-July with the back-to-college demand and followed by aggressive online sales expected during the festive months in Q3/Q4,” said Bharath Shenoy, Senior Market Analyst, IDC India.
The Indian PC market faced a decline in shipments during the first quarter of 2023, but amidst this challenging environment, HP emerged as the market leader with an impressive share. Despite the overall slump, HP's strong performance can be attributed to its robust product lineup, and effective marketing strategies. By catering to diverse customer needs and delivering quality products, HP managed to maintain its dominance in the Indian PC market. This achievement highlights the brand's ability to adapt to changing market dynamics and solidifies its position as a trusted choice for consumers in India.
According to IDC, HP Inc. led the market with a share of 33.8% in 1Q23 with a strong showing in both the consumer and commercial segments. While some government and education orders helped its commercial segment clock a share of 34.7%, strong demand in offline channels helped its consumer segment, as it held a share of 32.6% there. Despite good shipments, the vendor declined by 30.2% YoY as demand for PCs dropped across segments.