TrendForce Consultancy: 4Q24 DRAM industry revenue increased by 9.9% quarter-on-quarter.

According to the latest survey by TrendForce, the global DRAM industry revenue in the fourth quarter of 2024 exceeded $28 billion, a growth of 9.9% from the previous quarter. Due to the increase in contract prices for Server DDR5 and concentrated shipments of HBM, the top three companies all saw continuous growth in revenue. In terms of average selling prices, the contract prices for most application products have reversed the downward trend, with only the American CSP increasing the purchase of large-capacity Server DDR5, becoming the main reason for the continued rise in Server DRAM prices. Looking ahead to the first quarter of 2025, as the industry enters the production off-season, overall OEM shipments will decrease. In terms of prices, due to continuous destocking by PC OEMs and mobile phone manufacturers, DRAM suppliers will redirect DDR4 and some HBM capacity back to Server DDR5, slowing down CSP procurement momentum. It is estimated that contract prices for general DRAM and the overall contract price for general DRAM and HBM combined will decrease in the first quarter. HBM3e boosts revenue, SK hynix's market share closely follows Samsung Analyzing the revenue situation of each supplier in the fourth quarter of 2024, Samsung's revenue increased by 5.1% to $11.25 billion, maintaining its top position despite a slight decrease in market share. Due to destocking by PC OEMs and mobile phone manufacturers, the fast decline in shipments of LPDDR4 and DDR4, and Samsung's concentrated shipment of HBM products only at the end of last year, its fourth quarter shipment volume showed a seasonal decrease. SK hynix, ranked second, saw its revenue increase to $10.46 billion in the fourth quarter of 2024, a quarterly increase of 16.9%, with its market share rising to 36.6%. Its shipment volume increased quarterly, reflecting that the volume effect of HBM3e shipments outweighed the impact of the decline in LPDDR4 and DDR4 shipments. Micron's revenue increased by 10.8% to $6.4 billion, with its market share remaining roughly the same as the previous quarter, ranking third. The increase in Server DRAM and HBM3e shipments also drove its shipment volume up in the quarter. TrendForce stated that the revenue of other DRAM manufacturers in the fourth quarter of 2024 generally showed a seasonal decrease. Nanya was affected by the weakening consumer DRAM terminal sales momentum and market competition in the DDR4 market, leading to a 19.3% decrease in revenue to $203 million. Winbond also saw a decrease in shipments due to weakened demand for consumer DRAM, resulting in revenue of $119 million, a decrease of 22.4% from the previous quarter. In the case of PSMC, revenue calculation mainly consists of its own production of consumer DRAM products, with a 37.9% decrease in DRAM revenue to $11 million due to a shrinking wafer production scale; when including its foundry revenue, it decreased by 10%, reflecting that the purchasing momentum of foundry customers is still continuing.