In the second half of 2025, the global memory market experienced a strong recovery. A stark contrast emerged between the outstanding performance of leading manufacturers and the catch-up efforts of small and medium-sized players. The ongoing, widespread price surge has become a focal point for the industry, reflecting deeper transformations within the electronic components sector.
In the performance competition, leading manufacturers are leading the way with their technological advantages. Samsung's Q3 memory business sales increased by 19% quarter-on-quarter, driven primarily by HBM3E and server SSDs. SK Hynix achieved a historic high quarterly operating profit exceeding KRW 10 trillion, with significant contributions from AI server orders. Micron's performance was particularly outstanding, with its data center business accounting for 56% of revenue, gross margin soaring to 52%, and HBM revenue nearing USD 2 billion. Taiwanese manufacturers like Nanya Technology, Winbond, and mainland Chinese companies like GigaDevice have also risen with the momentum, showing significant profit improvements, forming a pattern of "Three Giants Leading, Multiple Points Breaking Through."

This round of price increases stems from structural imbalances on both supply and demand sides. On the demand side, the AI wave has spawned explosive demand. It is estimated that by 2026, AI and server applications will account for 66% of total DRAM capacity. The price of DDR5 16Gb chips once surged by 102% in a single month. Data centers are replacing the mobile market as the largest application area for NAND, further pushing up memory demand. On the supply side, leading manufacturers have proactively reduced production of mature products like DDR4, shifting capacity towards high-margin products like DDR5 and HBM. This has led to a continuously expanding supply-demand gap, with the overall memory market seeing price increases of up to 20% in Q4.

The heat in the memory market has propelled the electronic components industry into a new cycle, with hotspots concentrated in three major areas: AI servers driving surging demand for PCBs and high-computing-power chips; new energy vehicles boosting the volume of automotive-grade MLCCs and SiC components, with the global automotive MLCC market size expected to exceed USD 12 billion; and third-generation semiconductors benefiting from policy support, with silicon carbide penetration exceeding 20% and gallium nitride growing 45% annually in the fast-charging sector.

Behind the industry's prosperity, pain points are equally prominent. In R&D, small and medium-sized enterprises suffer from low collaboration efficiency, and the lack of unified design platforms leads to prolonged development cycles. In the supply chain, capacity crowding-out effects are evident, with AI server demand squeezing supply of LPDDR for mobile phones, and lead times for some materials extending to 52 weeks. In production, multi-variety, small-batch orders test flexible manufacturing capabilities, while low equipment connectivity rates constrain efficiency. In quality control, the high requirements in automotive and industrial sectors put significant yield pressure on small and medium-sized manufacturers.

Currently, the inflection point for memory price increases remains unclear, and the electronic components industry is at a critical juncture of technological iteration and domestic substitution. Only by focusing on breakthroughs in high-end technologies and strengthening supply chain resilience can enterprises seize opportunities amidst cyclical fluctuations and drive the industry towards high-quality development.