Dell announced its results for the first fiscal quarter of 2024. Revenue for the first quarter was $20.9 billion (148.073 billion yuan), down 20% from a year earlier and the biggest decline since the company went public again in 2018. Net profit was $578 million (4.095 billion yuan), down 46 percent from a year earlier.
For the current quarter's operating outlook, Dell is expected to continue last quarter's decline.
Dell kept its full-year revenue guidance at a decline of 12-18 per cent and said it expected a return to sequential growth in the second half.
Dell's poor performance, seems to be no surprise, Canalys recently released the latest data shows that in the first quarter of this year in the domestic PC top echelon, Lenovo and HP's market share is still stable, while Dell, claiming that the supply chain to "de-Sinicize", suffered a "50%" decline in shipments, ranking fell out of the top three. The lost market share has also been picked up by Huawei.
The "de-sinification" of the company's supply chain for desktops, laptops and peripheral products began in 2025, in the parlance of the previous supply chain.
In addition, Dell plans to completely stop using chips made in the Chinese mainland by 2024, including those made in the mainland by both Chinese and non-Chinese manufacturers, the source said.