Morgan Stanley: Chart of the Day — China PC and Tablet Shipments in May 2026
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According to IDC data, China PC shipments declined 14% year-over-year in May 2026 to 2.89 million units, though month-over-month performance improved by 2%. Year-to-date PC shipments reached 13.6 million units, representing an 8% contraction. Tablet shipments fell 7% year-over-year to 2.81 million units but rebounded 26% month-over-month. Year-to-date tablet volumes totaled 13.2 million units, down 6%.
Lenovo maintained its PC leadership with 1.114 million shipments, down 6% year-over-year but surging 29% month-over-month. Huawei's PC volumes dropped sharply by 39% year-over-year to 192,000 units. Apple's PC shipments grew 45% year-over-year to 218,000 units, bringing its year-to-date total to 937,000 units, an impressive 48% increase. ASUS and HP experienced mixed results, with HP declining 19% year-over-year.
In the tablet segment, Huawei led with 864,000 shipments, up 7% year-over-year. Lenovo posted exceptional growth of 42% year-over-year to 303,000 units. Conversely, Apple declined 13% and Xiaomi plummeted 46% year-over-year. Overall trends reflect soft market demand with notable brand-level divergence. The report did not provide specific ratings, target prices, or forward-looking catalysts.
Key exhibits
Exhibit 1
