内存涨价，千元机的天塌了

Core Viewpoint - The article discusses the significant impact of rising storage chip prices on the smartphone industry, particularly affecting mid-range and low-end models, as manufacturers shift focus to higher-margin products due to supply constraints driven by AI infrastructure demand [6][8][19]. Group 1: Market Dynamics - Since the second half of last year, storage chips have experienced a dramatic price surge, with consumer-grade memory modules increasing by over 600%, making them a highly valued investment product [6]. - Major storage chip manufacturers, including Samsung, Micron, and SK Hynix, have reported that their production capacities for DRAM, NAND Flash, and HBM products are fully booked until 2026 [6]. - The demand for HBM memory used in AI chips has led to prioritization in production, squeezing the supply of consumer-grade products and significantly impacting low-end smartphone manufacturers like Transsion [8][10]. Group 2: Financial Impact on Companies - Transsion, known for its cost-effective models, saw a 22.6% revenue increase in Q3 2025, but its net profit dropped by 11%, with a two-percentage-point decline in gross margin [8]. - Other smartphone manufacturers are also adjusting their strategies, with many opting to delay the launch of low-cost models and reducing overall order volumes by 10%-20% for 2026 [10]. - The rising costs of storage components have exposed the vulnerability of mid-range and low-end smartphones, which have less flexibility in pricing and profit margins compared to high-end models [13][14]. Group 3: Pricing Strategies and Market Trends - The average selling price (ASP) of smartphones is projected to exceed $400 for the first time, indicating a shift towards higher-priced models as manufacturers respond to rising component costs [19]. - Companies are likely to either increase prices to maintain margins or lower them to capture market share, particularly as the low-end market continues to shrink [19]. - The ongoing supply constraints and price increases in storage chips may signal the end of the "thousand-yuan phone era," pushing consumers towards higher-end devices [19].