Samsung & SK Hynix DRAM Prices Set to Soar in Q4

The global DRAM market is entering a new "super cycle," fueled by the surging demand from the AI industry. South Korea's leading memory manufacturers, Samsung Electronics and SK Hynix, are emerging as the primary beneficiaries of this trend. Strong orders for high-value products, combined with a spike in traditional DRAM demand, are expected to drive average selling prices (ASP) significantly higher in the fourth quarter of 2025, surpassing initial expectations.

According to ZDNet Korea, South Korea's major memory makers now anticipate a notable rise in DRAM ASP for Q4 2025. The recent surge in demand is largely driven by global tech giants expanding their AI infrastructure. In particular, server DRAM and high-bandwidth memory (HBM) products are seeing especially strong order activity.

The tight supply, however, is not limited to premium products. Standard DRAM used in PCs and smartphones is also facing severe shortages. This is largely because major memory manufacturers are allocating much of their DRAM production to HBM and focusing on process migration investments rather than building new production lines. At the same time, the supply of older-generation products such as DDR4 has been sharply reduced, further pushing up prices across the board.

The report notes that DRAM ASP growth in South Korea for Q4 2025 is expected to exceed earlier projections. Samsung Electronics' ASP is forecast to climb to the high end of double-digit growth compared with the previous quarter. This is a notable upward revision from earlier estimates during its Q3 earnings briefing, which projected only mid-double-digit growth. Industry observers agree that recent contract renewals make this price increase inevitable. Meanwhile, SK Hynix is expected to see ASP rise to the high end of single-digit growth for Q4. For reference, in Q3, Samsung's DRAM ASP increased by mid-double-digit growth, while SK Hynix's grew by mid-single-digit growth.

Faced with tightening memory supply, major IT companies are prioritizing procurement at almost any cost. Leading Chinese tech firms, including Xiaomi and Alibaba, have reportedly accepted price hikes exceeding 50% compared with the previous quarter. Lenovo, meanwhile, has secured long-term contracts to stabilize its memory supply through 2026.

A semiconductor market insider noted that much of Q4 pricing has already been negotiated. However, because contract timings vary among customers, Samsung and SK Hynix's memory supply agreements are expected to continue being signed throughout the end of 2025. The insider highlighted that Samsung is pursuing a more aggressive pricing strategy for standard DRAM compared with its competitors. Overall, South Korea's memory industry is seeing Q4 2025 DRAM ASP growth far above initial forecasts, reflecting both the robust market demand and the strong pricing power of memory manufacturers.