Previously, the tech world watched as smartphone manufacturers lamented the soaring prices of memory chips, escalating production costs, and the consequent need to hike phone prices.

Yet, despite these price increases, the going has been tough for all, as sales have continued their downward trajectory. Essentially, the extra costs are flowing straight to memory manufacturers, resulting in what could be termed a 'memory tax'.

Furthermore, the price hikes have been insufficient to keep pace with the escalating memory costs, compelling manufacturers to delve deeper into their coffers to foot this 'memory tax' bill.

As evidenced, flagship smartphones in the latter half of 2026 are projected to start at approximately 7,000 yuan, with Apple and Huawei models even surpassing the 10,000 yuan mark.

Many are left scratching their heads. After all, PCs, like smartphones, are heavily reliant on memory chips. So, why don't PC manufacturers appear to be suffering as acutely as their smartphone counterparts? Significant sales drops among PC makers haven't exactly made headlines.

The truth is, PC manufacturers are indeed grappling with sharp declines and are hurting badly. It's just that the impact became most pronounced in the third quarter.

As illustrated in the chart above, which depicts the global PC sales landscape over the past five quarters as released by relevant institutions, the first and second quarters of this year were still somewhat bearable, with a 3% increase in the first quarter and a 3.8% decrease in the second. The overall scenario seemed relatively stable, with minimal disruption.

However, the third quarter, traditionally a robust period, saw problems erupt. Sales plummeted by a staggering 20.1%, marking the most significant decline in recent memory.

Data reveals that a mere 62.7 million computers were sold globally in the third quarter, representing a year-on-year drop of 20.1%, or 15.8 million fewer units compared to the same period last year. Sequentially, sales also fell by 9.1%, a truly dismal showing.

Delving into the performance of individual brands, none of the top five witnessed an uptick; all experienced declines, albeit to varying degrees.

Lenovo maintained its pole position with 14.9 million units sold but suffered a 22.6% decline, performing worse than the overall market. HP saw a staggering 30.9% drop, the steepest among the listed companies, while DELL fell by 25%, the second-worst performance.

Apple fared relatively better, with only an 11.3% decline, and ASUS saw just an 8.6% drop. Other manufacturers experienced a 14% decline, all outperforming the overall market to some extent.

It's clear that, following in the footsteps of smartphones, PC manufacturers are now beginning to feel the sting of rising memory prices. With costs on the rise and sales in decline, they're facing a double whammy. The third quarter was so dismal that it's uncertain how the fourth quarter, traditionally the peak season, will pan out.

But one can surmise that if memory prices continue their upward trajectory, downstream industries will contract. Eventually, the entire memory market might become solely reliant on AI, while other industries could crumble.