Group 1 - The core viewpoint of the article indicates that the DRAM industry revenue for Q1 2025 is projected to be $27.01 billion, reflecting a 5.5% quarter-over-quarter decline due to falling contract prices for conventional DRAM and a reduction in HBM shipment scale [1] - The average selling price has been affected by Samsung's redesign of HBM3e products, which has lessened the capacity squeeze effect, leading downstream companies to deplete their inventory, resulting in continued price declines since Q4 2024 [1] - Looking ahead to Q2 2025, as PC OEMs and smartphone manufacturers complete their inventory depletion and ramp up production, there is an expected increase in bit procurement activity, significantly boosting original manufacturers' shipments [1] Group 2 - It is anticipated that contract prices for major applications will stop declining and begin to rise, with projections indicating an increase in contract prices for conventional DRAM as well as the overall contract price combining conventional DRAM and HBM [1]

Core Viewpoint - The DRAM industry is expected to see a revenue decline in Q1 2025 due to falling contract prices for conventional DRAM and a convergence in HBM shipment volumes, with a projected revenue of $27.01 billion, down 5.5% from the previous quarter [1][2]. Group 1: Industry Revenue and Price Trends - The revenue for the DRAM industry in Q1 2025 is projected at $27.01 billion, reflecting a 5.5% quarter-over-quarter decrease [1][2]. - The average selling prices are expected to continue their downward trend from Q4 2024, influenced by Samsung's changes in HBM3e product design and inventory liquidation by downstream players [1]. - In Q2 2025, a recovery in contract prices is anticipated as PC OEMs and smartphone manufacturers complete inventory adjustments, leading to increased procurement activity [1]. Group 2: Company Performance - SK hynix reported a revenue of $9.72 billion in Q4 2024, experiencing a 7.1% decrease in Q1 2025, maintaining the top position in market share at 36.0% [2][4]. - Samsung's revenue fell by 19.1% to $9.1 billion in Q1 2025, dropping its market share to 33.7% due to reduced shipments of high-priced HBM3e products [2][4]. - Micron's revenue increased by 2.7% to $6.58 billion in Q1 2025, benefiting from expanded HBM3e shipments despite a slight decrease in prices [2][5]. - Nanya and Winbond both saw revenue increases of 7.5% and 22.7%, respectively, in Q1 2025, driven by specific product launches and higher shipment volumes [5].