存储涨价风暴席卷消费市场，下游厂商迎来“最难定价季”

Core Insights - The consumer electronics market is facing significant challenges due to a storage price surge that began in the second half of 2025, affecting all segments from upstream to downstream [1][2][3] - The price of storage components, such as DDR5 chips, has seen dramatic increases, with some prices doubling within a month, leading to inventory shortages for major smartphone manufacturers [2][6] - Companies are responding to rising costs by increasing product prices, with mid-range smartphones seeing price hikes of 200 to 300 yuan [3][7] Price Surge in Storage Components - The price of 1TB mechanical hard drives has risen from over 380 yuan to nearly 500 yuan, while 1TB solid-state drives have increased from over 500 yuan to 700 yuan [1] - The price of DDR5 16Gb chips surged from $7.68 to $15.5 within a month, marking a 102% increase [2] - Major manufacturers like Samsung and SK Hynix have paused quotes due to extreme price volatility [2] Impact on Smartphone Manufacturers - Major smartphone brands are experiencing inventory levels below two months, with some DRAM stocks lasting less than three weeks [2] - Companies are adjusting their pricing strategies to cope with increased storage costs, with OPPO and Honor raising prices for their new models [3][7] - Smaller smartphone brands may face significant challenges and potential market exit due to low margins and rising costs [6] Effects on PC and Home Storage Markets - The price of AI home storage products has increased by 20-30% compared to the previous year's Double Eleven shopping festival [4][5] - NAS products have also seen price increases, with some models rising from 2499 yuan to 3149 yuan [5] - The overall trend in the NAS market is expected to be upward due to rising component costs and increased demand for higher performance [5][8] Future Market Outlook - The storage price surge is anticipated to continue into 2026, with analysts warning of potential further adjustments to global smartphone shipment forecasts [7][9] - Despite current challenges, the NAS market is projected to grow significantly, with a compound annual growth rate exceeding 25% over the next five years [9] - The demand for storage is driven by the explosion of AI applications, which has led to a notable supply shortage [9]