Thanks to HP's most recent -- and dismal -- quarter, the U.S. may be only months away from turning over PC leadership to China.

Overall, HP posted an $8.9 billion quarterly loss, much of it due to its IT services division. But the personal systems group's 10% decline in revenue may be as significant as it just may be enough to help get Lenovo to the top of the PC market by year's end.

Gartner's report on second quarter PC shipments, released last month, showed HP with 14.9% of the world's PC market, and Lenovo with 14.7%. Most troubling for HP in the Gartner report were the PC growth rates -- HP's share declined by more than 12% while Lenovo's share increased by nearly 15%.

IDC's latest market share numbers give HP a little more breathing room. The Framingham, Mass., research firm listed HP's second quarter worldwide PC share at 15.5%, and Lenovo at 14.9%.