中国存储芯片厂搅动全球价格战

Core Viewpoint - China is implementing subsidy policies to encourage the purchase of domestic semiconductor memory products, leading to a significant price advantage over foreign products, with Chinese DRAM and NAND being approximately 23% cheaper, and potentially up to 50% cheaper when subsidies are considered [1][2]. Group 1: Market Dynamics - The presence of large Chinese enterprises in the semiconductor memory market is increasing due to technological innovation and enhanced price competitiveness [1]. - The global pricing of semiconductor memory is being influenced by the lower prices of Chinese products, which is affecting the market dynamics for NAND and DRAM [2][3]. - The average transaction price for NAND-based solid-state drives (SSDs) has decreased by 8% in the first quarter, with the price of a 256GB TLC SSD around $29.9 [2]. Group 2: Product Performance and Innovation - Yangtze Memory Technologies Co. (YMTC) is expanding its market share in NAND, while Changxin Memory Technologies (CXMT) is growing in the DRAM sector, with YMTC achieving a significant milestone in mass production using hybrid bonding technology [2][3]. - As of March, YMTC's products have the highest number of layers in the market, reaching 267 layers, indicating a competitive edge in performance [2]. Group 3: Price Trends and Future Outlook - The prices of NAND and DRAM are currently on a downward trend due to aggressive pricing strategies from Chinese companies, but there are expectations that prices may bottom out within the year [3][4]. - Factors such as the preparation for potential tariffs and a slowdown in sales of personal computers and smartphones are contributing to the current price declines [3]. - Some large manufacturers are reducing production, and if demand from servers increases, semiconductor memory prices may begin to rise later in the year, potentially showing signs of bottoming out between April and June [4].