Smartphone growth expectations were modestly reduced after renewed tariff risks emerged, putting pressure on the market from 2H 25 through 2026.
Demand for flagship models remains robust, and shipments of 4G smartphones have also edged higher.
The PC market has held steady so far, with low-single-digit growth for the year unchanged.
PC shipments could slip in 4Q25 as some orders are pulled forward in anticipation of tariffs.
Upside orders from US DC continue, and AI-driven demand among leading operators is still gaining momentum.
Looking ahead to 2026, US DCs’ CapEx is expected to maintain its growth trajectory, and AI demand is still projected to remain robust.
DRAM
The contract price for PC DDR5 UDIMMs is expected to rise by about 5% or more this quarter, with some suppliers quoting increases of over 10%.
Vendors are lifting prices on the back of strong US DC demand anticipated for 2H25.
For DDR4 UDIMMs, ASP have already surged more than 40 percent this quarter and are projected to climb a further 10% or more in 4Q25.
As DDR4 pricing continues to escalate, demand is likely to contract sharply in 2026 for PC market..
DDR4 RDIMM prices are also trending higher, as couple DCs operators move to secure supply.
Suppliers plan to allocate additional production capacity to DDR4 to meet these orders.
DDR5 RDIMM ASPs are expected to edge up in the low single-digit range this quarter, and a price decline is unlikely this year.
Consumer DRAM prices continue to rise.
It is not only DDR4 products, the DDR3 components have also climbed sharply.
DDR3 suppliers have high intention to raise the ASP even higher than current projections.
The DDR3 price would raise further.
In the channel market, demand for DDR5 modules remains solid and shipments have continued to improve.
DDR4 module shipments performed sluggish. The prices rose too sharply, and even recent discounts have not revived sales.
DDR4 component prices still exhibit upward momentum.
Traders are generally willing to deal at current price levels, and the volume of offers has increased.
Further ASP growth for DDR4 in the spot market may meet resistance.
DDR5 chip prices rose by a low single-digit percentage this month.
This month, in the spot market,
16G DDR5 x8 original brand component up 3%.
16G DDR4 x8 original brand component up 6%.
16G DDR4 x8 ETT/UTT grade component up 9%.
8G DDR4 x8 original brand component up 3%.
8G DDR4 x8 ETT/UTT grade component down 12%.
8G DDR4 x16 original brand component up 7%.
8G DDR4 x16 ETT/UTT grade component down 10%.
NAND
PC OEM cSSD contract prices are expected to rise by a mid-single-digit percentage this quarter.
Closing deals at a high-single-digit increase remains difficult at this stage, even though some vendors are quoting that level.
Offers with increases below 5 % have been accepted by certain customer.
Demand for eSSD in the US market remains strong.
The upside demand from major US AI DCs cannot be fulfilled in 2H25.
Shortages of DDR4 component and controllers have further tightened supply.
eSSD prices could rise by another few percent in 4Q25.
Price expectations for UFS for smartphone vendors are unchanged and still point to a mid-single-digit increase.
In the channel, cSSD prices have slipped slightly, and shipments are weaker than last month.
Raw Nand prices have inched up versus last month, but most customers are resisting the hike.
Solid eSSD demand is prompting suppliers to allocate less raw NAND to the spot market, which should help support raw NAND prices for a longer period.