Samsung’s Q2 2025 Memory Performance Disappoints but Signals H2 Recovery
- Samsung Electronics’ memory division reported disappointing Q2 2025 results, with sales declining to KRW 21.2 trillion and operating profit to KRW 2.9 trillion, hurt by weak HBM performance.
- Meanwhile, SK Hynix recorded memory sales of KRW 21.8 trillion in the Q2 2025, becoming the top memory supplier for the first time in its history.
- To improve earnings in H2 2025, it is crucial for Samsung to increase HBM sales and secure supply to NVIDIA.
Seoul, Beijing, Berlin, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi, Taipei, Tokyo – July 31, 2025
Samsung’s Memory business revenue fell 3% YoY in Q2 2025 to reach KRW 21.2 trillion, strained by the weak performance of its High Bandwidth Memory (HBM) solutions. According to Counterpoint Research’s Memory Tracker, Samsung’s HBM shipment share dropped to 17% in Q2 2025 from 41% in the year-ago quarter, falling behind competitors such as SK Hynix and Micron. One key reason for the sharp decline in Samsung’s HBM market share during the first half of the year was the export restrictions to China, which limited the company’s sales channels.
HBM Market Share By Bit Shipment
In comparison, SK Hynix posted memory sales of KRW 21.8 trillion (including DRAM and NAND) in Q2 2025 to claim the top spot in the memory sector, narrowly surpassing Samsung’s KRW 21.2 trillion.
SK Hynix also outperformed Samsung in terms of memory operating profit. An analysis shows that the two companies’ operating profits have taken divergent paths since H1 2024. SK Hynix, having established itself as NVIDIA’s key partner following its success in HBM, has been recording rising operating profits. Meanwhile, Samsung’s operating profit has been declining, reflecting its relatively weaker performance in the HBM market.
Samsung vs SK hynix’s Operation Profit : A Reverse of Fortunes
Commenting on the future of Samsung’s HBM sales, Counterpoint Research Analyst Jeongku Choi said, “The good news is that Samsung’s HBM sales appear to have bottomed out in Q1 2025 and are showing signs of recovery in Q2 2025. However, to regain lost market share, it is critical for Samsung to diversify its HBM3E customer base and pass NVIDIA’s stringent quality tests. To supply HBM4 for NVIDIA’s next-generation Rubin platform, Samsung must ensure quality in the customer’s eye and achieve stable yield levels. Considering the recent announcement that Samsung Foundry has won orders from Tesla, there is growing expectation for an overall improvement in Samsung’s future performance.”
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Author
Jeongku Choi
Jeongku Choi is a Research Analyst at Counterpoint Research based in Seoul, Korea. As an engineer in LG Electronics, she was responsible for commercializing the latest technologies for new products in mobile and automotive. Also analyzing and strategizing the latest Android technology was one of her roles. Her interests are mobile, mobility, AI, and emerging technologies.
MS Hwang
MS Hwang is a research director at Counterpoint, specializing in memory semiconductor research. MS Hwang brings over 30 years of experience from Samsung Electronics and sell-side brokerage research roles including ABN AMRO, Goldman Sachs, Credit Suisse and Samsung Securities.