Samsung Electronics reclaimed the top spot in the memory market in Q4 2025 with a revenue of KRW 37.1 trillion ($25.9 billion), while SK hynix set an industry record with a 58% operating profit margin, according to the earnings reports released by the two companies. SK hynix’s record margin serves as a powerful testament that memory semiconductors have evolved beyond simple commodities into indispensable, core components of the AI era.

Strong sales of high-value-added products, such as HBM and server DRAM, coupled with the rising prices of conventional DRAM, served as the primary growth engines for both companies.

According to Counterpoint Research’s Memory Tracker, DRAM operating profit margins are on a steep upward trajectory. While the industry suffered negative margins in 2023 due to inventory gluts and collapsing prices, SK hynix spearheaded a sharp recovery as HBM3E shipments gained full momentum. By 2025, both Samsung Electronics and SK hynix were seeing a significant surge in profitability, bolstered by the skyrocketing prices of conventional memory.

Samsung, SK hynix Quarterly DRAM Operating Profit Margin, 2013-2025

Senior Analyst Jeongku Choi noted, “2026 is projected to be a ‘Golden Era’ for the memory industry, as the mass production of HBM4 aligns with the maximization of profitability in conventional DRAM.”

According to Counterpoint’s Memory Price Tracker, the upward price trajectory is expected to persist for the foreseeable future. Following a surge of over 50% in Q4 2025, memory prices are forecasted to rise by an additional 50% in the first quarter of this year. This sustained price rise is anticipated to impact all sectors of the electronics industry. On this trend, Research Director Tom Kang commented, “Consumer electronics, such as PCs, will be the most heavily affected. Products and brands with weaker price negotiation power are expected to face mounting pressure.”

About Counterpoint Research

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world's major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.

Follow Counterpoint Research

Twitter
LinkedIn