According to the latest survey by TrendForce, in the first quarter of 2025, due to the decline in ConventionalDRAM contract prices and the contraction in HBM shipment scale, the DRAM industry's revenue was 27.01 billion US dollars, a decrease of 5.5% quarter-on-quarter.
According to the latest survey by TrendForce, in the first quarter of 2025, due to the decline in the contract price of Conventional DRAM and the contraction in the shipment scale of HBM, the revenue of the DRAM industry was 27.01 billion US dollars, a decrease of 5.5% quarter-on-quarter. In terms of the average selling price per unit, due to Samsung's change in the design of the HBM3e product, the capacity crowding effect of HBM has weakened, prompting downstream players to clear their inventories. As a result, the contract prices of most products have continued to decline since the fourth quarter of 2024. Looking ahead to the second quarter of 2025, as PC Oems and smartphone manufacturers gradually complete inventory reduction and actively produce complete machines, the purchasing momentum of bits will heat up, and the shipment bits of original equipment manufacturers will increase significantly quarter-on-quarter. In terms of price, it is expected that the contract prices of all major applications will stop falling and rise. It is estimated that the contract prices of general DRAM, as well as the overall contract prices of the combination of general DRAM and HBM, will all increase.
Observe the revenue performance of each DRAM supplier in the first quarter:
The shipment proportion of HBM3e of SK hynix (SK Hynix) increased, supporting the selling price to be roughly the same as the previous quarter. However, the shipment volume decreased compared with the previous quarter, resulting in a quarterly revenue decrease of approximately 7.1% to 9.72 billion US dollars, and the ranking rose to the first place.
Samsung's revenue in the first quarter decreased by more than 19% quarter-on-quarter, reaching 9.1 billion US dollars, mainly due to the significant reduction in the shipment volume of high-priced products caused by the revision of the HBM3e. Its ranking dropped to second place.
Micron Technology, which ranked third, expanded its HBM3e shipments in the first quarter. Even though the selling price slightly decreased quarter-on-quarter, its revenue still reached 6.58 billion US dollars, an increase of 2.7% quarter-on-quarter.
TrendForce stated that after the top three companies switched their manufacturing processes, the market they failed to meet was gradually filled by mature process products from other suppliers, which contributed to a significant quarter-on-quarter increase in revenue for Nanya (Nanya Technology) and Winbond (Winbond Electronics) in the first quarter. Nanya's specific DDR5 products started shipping, offsetting the effect of the sluggish Consumer DRAM market. Its revenue was 219 million US dollars, increasing by 7.5% quarter-on-quarter.
Winbond's high-capacity LPDDR4 and DDR4 products with lower average bit prices were shipped in large quantities in the first quarter, driving a significant increase in overall shipments. However, the prices dropped, and the revenue was 146 million US dollars, up 22.7% quarter-on-quarter.
The revenue calculation of PSMC (Powerchip Electronics) is mainly based on its own produced Consumer DRAM. Due to the shrinking scale of wafer fabrication, the revenue decreased by 1.4% quarter-on-quarter to 11 million US dollars. If the DRAM foundry business is included, the revenue decreased by 13% quarter-on-quarter due to the slowdown in the purchasing momentum of foundry customers.
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