据《日经亚洲》报道，惠普、华硕和宏碁正在将部分PC产能从泰国和越南迁回中国。人工智能需求推高了内存和存储芯片的成本。知情人士告诉《日经亚洲》，戴尔也在考虑采取类似举措。
HP, Asus and Acer are moving some PC production back to China from Thailand and Vietnam, Nikkei Asia reported. AI demand is driving up the cost of memory and storage chips. Dell is considering a similar move, people familiar with the matter told Nikkei.
李劳利和郑婷芳于10月28日为《日经亚洲》率先报道了这一消息，消息来源为业内人士。这一转变部分逆转了“中国+1”战略。根据该战略，PC制造商在亚洲其他地方建厂，以减少对中国的依赖。TNW尚未独立核实该报道。
Lauly Li and Cheng Ting-fang broke the story for Nikkei Asia on 28 October, citing industry sources. The shift partly reverses the “China+1” strategy. Under it, PC makers built factories elsewhere in Asia to rely less on China. TNW has not independently verified the report.
“此举实为成本压力所驱动，”一位芯片行业高管告诉《日经亚洲》。该高管所在的公司为所有主要PC制造商供货。
“The move is really driven by cost pressures,” a chip industry executive told Nikkei Asia. The executive’s company supplies all major PC makers.
这位高管表示，内存和其他零部件价格大幅上涨，PC制造商难以消化这些成本。该人士补充说，中国代工企业提供的价格极具竞争力。
Memory and other parts have risen so sharply that PC makers struggle to absorb the costs, the executive said. Chinese contract manufacturers offer highly competitive pricing, the person added.
新工厂，新合作伙伴。PC制造商并未回归其惯常使用的台湾代工厂。据《日经亚洲》报道，广达、仁宝、英业达和富士康正专注于AI数据中心服务器。这为立讯精密、华勤技术和龙旗科技等中国企业赢得PC订单留下了空间。
New factories, new partners The PC makers are not going back to their usual Taiwanese assemblers. Quanta, Compal, Inventec and Foxconn are focusing on AI data centre servers, Nikkei reported. That leaves room for Chinese firms such as Luxshare, Huaqin Technology and Longcheer Technology to win PC orders.
据《日经亚洲》报道，这些中国制造商提供高效的生产、熟练的劳动力，还能获得中国制造的内存芯片。另一位供应商高管告诉《日经亚洲》，他们正派遣代表以更低价格争取大型PC品牌。
The Chinese manufacturers offer efficient production, a skilled workforce and access to memory chips made in China, according to Nikkei. Another supplier executive told Nikkei that they are sending representatives to court big PC brands with lower prices.
Counterpoint分析师伊万·林告诉《日经亚洲》，中国在周边部件和结构部件方面也保持优势，其他国家在这方面仍难以匹敌。
China also keeps an edge in peripheral and structural parts, Counterpoint analyst Ivan Lam told Nikkei. Other countries still struggle to match it there.
此举之前，多年来行业一直在向反方向转移。2023年，《日经亚洲》报道称，惠普计划将很大一部分笔记本电脑产能迁出中国，目标地点是泰国、墨西哥，后来还有越南。今年8月，《日经亚洲》报道称，惠普、华硕和宏碁已开始使用中国长鑫存储（CXMT）的部分内存芯片，这些芯片被用在美国以外销售的几款笔记本电脑中。
The move follows years of shifting the other way. In 2023, Nikkei reported that HP planned to move a large share of its laptop production out of China. Thailand, Mexico and later Vietnam were the targets. In August, Nikkei reported that HP, Asus and Acer had started using some memory from China’s CXMT. It went into a few notebooks sold outside the US.
处理器、内存和存储占据更大份额 根据研究机构 TrendForce 的数据，第三季度处理器、内存和存储约占主流笔记本电脑物料成单（BOM）成本的 68%。而在 2025 年第一季度，这一比例约为 45%。
Memory takes a bigger slice Processors, memory and storage made up about 68% of a mainstream notebook’s parts bill in the third quarter, according to research firm TrendForce. In the first quarter of 2025, they made up about 45%.
TrendForce 预计，中国境外生产的笔记本电脑占比将从 2025 年的约 24% 下降至今年的 21%。到 2027 年，这一比例可能跌破 20%。
TrendForce expects the share of notebooks made outside China to fall from about 24% in 2025 to 21% this year. It could drop below 20% in 2027.
芯片制造商预计短缺短期内不会缓解。SK 海力士表示，内存短缺将持续到 2030 年。英特尔首席财务官大卫·津斯纳（David Zinsner）在本周的财报电话会上给出了较短的展望，Stevie Bonifield 为《The Verge》报道了此事。
Chipmakers do not expect the shortage to ease soon. SK Hynix has said the memory shortage will last until 2030. Intel’s finance chief, David Zinsner, gave a shorter outlook on the company’s earnings call this week, Stevie Bonifield reported for The Verge.
“毫无疑问，就内存而言，我们对明年不持乐观态度，”津斯纳说。
“Make no mistake, we are not optimistic about next year in terms of memory,” Zinsner said.
与此同时，内存制造商业绩创纪录。三星本周报告称，得益于 AI 内存需求，季度利润创历史新高；中国的长鑫存储（CXMT）也因内存价格飙升而实现扭亏为盈。
Memory makers are meanwhile posting record results. Samsung reported a record quarterly profit on AI memory demand this week, and China’s CXMT has swung to profit as memory prices soar.