As figures for PCs continue to show a crashing and burning industry, one hardware maker is smiling through the ashes.

Shipment estimates released today by research firms Gartner and IDC centered around a global decline of around 11 percent in PC sales during the second quarter of 2013. The one bright spot came for Lenovo, which grabbed the crown of No. 1 supplier away from long-standing stalwart HP.

It quickly jumped to claim its title.

"Even in the toughest PC market ever, Lenovo has not only gained share, but we have steadily improved profitability and introduced even more innovative products for every market statement," said Yang Yuanqing, Lenovo's chairman and CEO, in a statement sent to the media.

"The battle for PC leadership could certainly still go back and forth," he continued. "But I am fully confident that there remains substantial room for profitable growth and groundbreaking innovation in the global market place."

Easy for you to say

The PC slump, now spanning five back-to-back quarters, constitutes the industry's longest down period.

But the undisputed champ - the last time Lenovo was named the top dog, it was only by Gartner - captured more market share, up from 15 percent in Q2 2012 to 16.7 percent in Q2 2013, according to IDC. For its part, Gartner gave Lenovo the same 16.7 percent figure, up from 14.9 percent the previous quarter and 14.9 percent from Q2 2012.

HP was unseated as it only managed to grab 16.3 percent worldwide as Gartner tells it, and 16.4 percent by IDC's standards. However the former put HP's sales down almost 5 percent and the latter at about 4 percent.

"We don't like being No. 2 and we don't plan to stay there," an HP spokesman told the Wall Street Journal. "We're also focused on building a profitable business that's smart about its future."

Dell, the bronze medal finisher, claimed 11.8 percent in Q2 2013, down from 11 percent in Q2 2012, according to Gartner, while IDC put its figures at 12.2 percent and 11.3 percent for the respective periods.

Rounded out the worldwide top five was Acer with 8 percent and Asus sitting at close to 6 percent.

There may be light at the end of tunnel that's seemingly being eaten away by tablets, however, with one Gartner analyst stating that "the steepest part of the decline is probably done." New Intel chips, more pleasing designs and perhaps a sprinkling of Windows 8.1 attention might help turn PC fortunes around for a company other than Lenovo.