© Micron SK hynix Samsung
Analysis |

Top DRAM makers of Q423

The global DRAM industry saw a nearly 30% growth in revenues during 4Q23 – mainly due to rising prices and volume, Says TrendForce.

TrendForce reports that the DRAM industry revenue for 4Q23 saw a 29.6% QoQ growth during the last quarter of 2023, reaching USD 17.46 billion. The growth was propelled by revitalised stockpiling efforts and strategic production control by leading manufacturers. 

Looking ahead to 1Q24, the desire to boost profitability is clear, with DRAM contract prices expected to rise by about 20% — albeit with a modest decrease in shipment volumes due to the traditional off-season.

Unsurprisingly, Samsung tops the field with the highest revenue growth among the top manufacturers in Q4, jumping 50% QoQ to USD 7.95 billion, owing partly to a surge in 1alpha nm DDR5 shipments, which increased server DRAM shipments by more than 60%, TrendForce reports..

SK hynix saw a small 1-3% increase in shipping volumes, but benefited from the pricing advantage of HBM and DDR5, particularly high-density server DRAM modules, resulting in a 17-19% increase in ASP and a 20.2% increase in revenue to USD 5.56 billion.

Micron saw growth in both volume and price, with a 4-6% increase each, resulting in a more moderate revenue increase of 8.9%, reaching USD 3.35 billion for the quarter, owing to its reduced proportion of DDR5 and HBM.

RankingCompanyRevenueMarket share
2SK hynix5,5604,62620.2%31.8%34.3%
4Q23 revenue ranking of branded DRAM makers

On the capacity planning front, Samsung's production rebounded in the first quarter of this year, achieving 80% utilisation after dramatically reducing output in 4Q23. Demand is predicted to climb significantly in 2H24, resulting in a steady expansion in production capacity through 4Q24. SK Hynix is actively growing its HBM capacity and steadily boosting wafer starts, particularly with the introduction of HBM3e mass manufacturing. Micron is also ramping up wafer production, with the goal of increasing its advanced 1beta nm process share for HBM, DDR5, and LPDDR5(X) products, the report continues.

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June 13 2024 1:49 pm V22.4.55-2