DRAM revenues surged in 2Q24
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DRAM sector revenues increased to US$22.9 billion in 2Q24, a 24.8 percent sequential rise, according to market analyst TrendForce.
This surge was driven by expanded shipments of mainstream products that boosted revenue for most manufacturers while contract prices maintained an upward trend.
Samsung, SK Hynix, and Micron all reported increased shipments in Q2 compared to the previous quarter. Average selling prices (ASPs) also continued to rise following the first quarter’s trend. Contributing factors included the earthquake that struck Taiwan in early April and the high demand for HBM products, which shifted DRAM buyers toward more aggressive procurement strategies.
DRAM manufacturers ranked by global DRAM revenue in 2Q24 (US$ millions). Source: TrendForce
TrendForce highlighted that Samsung benefited from a 17 to 19 percent increase in ASP, with bit shipments also rising slightly, leading to revenue growth for DRAM of 22 percent to $9.82 billion.
SK Hynix saw its bit shipments rise by over 20 percent, driven by the mass shipment of its HBM3e products. DRAM revenue increased by 38.7 percent to $7.91 billion.
Micron’s Q2 revenue rose by 14.1 percent to $4.5 billion despite a slight decrease in ASP, as bit shipments grew by 15 to 16 percent.
DRAM manufacturers concluded 3Q24 price negotiations towards the end of July 2024 and were able to achieve higher ASPs than previously expected, TrendForce said. Consequently, TrendForce has revised the Q3 contract price increase for conventional DRAM to between an 8 and 13 percent uplift, approximately 5 percentage points higher than the previous forecast.
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