The effects of the US subprime mortgage crisis and financial turmoil continued into the fourth quarter of 2008, affecting market demand in major regions worldwide. Consumer confidence levels in major shipment destinations of mainstream notebook PCs - including North America, West Europe, and Japan - were relatively low. Additionally, the Chinese market performance did not live up to expectations as well. Despite of the fact that end-market demand saw a short-term rebound during the thanksgiving holiday, the industry still posted a year-on-year decline in the fourth quarter of 2008. Due to the economic slowdown in major economies, weak consumer confidence, and demand uncertainty, brand-name vendors took a wait-and-see attitude toward the Christmas holiday season in the fourth quarter.