Global notebook shipments excluding detachable models in the third quarter of 2025 outperformed expectations, growing by 1.7% compared to the second quarter of 2025. Due to the unresolved semiconductor Section 232 investigation affecting final notebook tariffs on imports to the US, which remained unpublished after the third quarter ended, major brand vendors capitalized on the third quarter to push annual shipment targets and build up inventory ahead of the year-end consumer peak season, driving shipment growth during this period.
However, since brands had already ramped up orders in the second quarter amid tariff uncertainties, the sequential growth rate in the third quarter is less pronounced than in previous years. Looking ahead to the fourth quarter of 2025, given the larger pull-ins of orders in the previous two quarters due to tariff concerns, major brands planned to revise down their shipment targets for the fourth quarter, negatively impacting overall shipment performance.
The enterprise sector continues to face weak demand as enterprises keep reducing headcount, resulting in sluggish demand for enterprise notebooks. Additionally, the launch of the next-generation AI PC platform is expected to be delayed until the first quarter of 2026, leaving the fourth quarter without new product catalysts and weakening shipment momentum.
