Thursday, August 6, 2009

Global DRAM revenue rises 27.1 percent in 2Q09

TAIPEI, TAIWAN: According to DRAMeXchange, with the production cut effect in DRAM contract price, PC system vendors continue to replenish their DRAM inventory under the low pricing status and resulted in the 23 percent growth contract price in 2Q09.

Given the tight supply, spot price also hikes that DDR2 1Gb 667MHz chip spot price once reached $1.27 in May and it was anticipated to reach $1.5 by the quarter end. However, it is said that a certain DRAM vendor released the low price chip to spot market that trigger the price fallen to the rage of US$1.05~US$1.19. Average price for DDR2 1Gb 667 MHz rose 27 percent to $1.12 in 2Q09.

The 2Q09 DRAM revenue rose about 10 percent~50 percent given the 23 percent growth contract price and 27 percent growth spot price. Samsung and Elpida have outperformed the market and increase 3 percent to their market share. Compared with the overall industry revenue in 1Q09, DRAM revenue for 2Q09 rose 27.1 percent to US$4,043M in 2Q09.

Global own brand revenue ranking for DRAM vendors
According to DRAMeXchange, 2Q09 DRAM revenue increased 27.1 percent. Samsung continued its unchallenged leadership in the DRAM industry with $1,179M DRAM revenue in 2Q09 while its market share has climbed 2.8 percent to 29.2 percent given the upward pricing trend in contract price, technology migration and raise DDR3 portion.

In 2Q09, Hynix's DRAM sales rose 31.5 percent to $928M given the 20 percent average price growth, 10 percent quarterly bit growth and dropping unit cost. Currently, Hynix ranks at the 2nd place and its market share has increased 0.7 percent to 22.9 percent.

Elpida recorded the dramatically 50.1 percent sales increase and strengthened its 3rd market leading position to surpass Micron given the 27 percent ASP growth and 12 percent bit growth.

For the different accounting period (2Q for Micron is March, April and May) it applied for the accounting periods, contract price still decline 2 percent compared with last periods (Dec., Jan. and Feb.).

According to DRAMeXchange, DDR2 1Gb 667MHz contract price was merely $0.88 in March while the contract price increased to $1.16 in June that the revenue upward pattern is less than other vendors. Therefore, Micron would grab 4th place in the ranking while its market share has declined to 13.6 percent in 2Q09 from 15.2 percent in 1Q09.

As for the Taiwanese vendors, Nanya ranks at the 5th position along with $230M DRAM revenue and 34.5 percent QoQ given the upward pricing trend in both spot market and contract market, and peaking utilization rate of outsourcing partner-Inotera.

Benefited from the 27 percent boosting spot price and 42 percent utilization rate from 25 percent, PSC shows the amazing 38.1 percent revenue growth in 2Q09 and its market share has slightly increased.

Winbond announced its 2Q09 DRAM revenue at $80m with merely 8.6 percent QoQ. The market share has declined to 2 percent since growth momentum is comparably weaker than the market. ProMOS also demonstrates 20.9 percent QoQ revenue pattern with the upward pricing trend as well.

Fig. 1: 2Q09 WW DRAM revenue ranking, by own brand DRAM revenue
(Company revenue includes outsourced portion and excludes the sub-manufacturing revenue)Source: DRAMeXchange, Aug. 2009

*Qimonda did not announce any financial results in 2Q09 under the stage of bankruptcy.; Unit: Million USD

Note:
Fig. 1: For Samsung 2Q DRAM revenue , we approximately derived the resulted by deducting LSI revenue from semiconductor based on the assumption that DRAM revenue accounts for 48.3 percent in memory sectors and 2Q09 average exchange rate is $1 against KRW$1,283. We apply this estimation to other vendors by indicating 71 percent for Hynix total revenue, 49.8 percent for Micron, 89 percent for PSC, 90 percent for ProMOS, 94 percent for Nanya and 80 percent for Winbond under the following exchange rate: US$1 against NT$33.09, US$1 against JPY$97.41.

Own brand market share of global DRAM industry (By country)
The Korean vendors share rose 3.5 percent to 53.4 percent compared with 1Q09 and their leader position remained unchallenged in 2Q09.

Shares from the Taiwanese vendors slightly rose to 13.8 percent in 2Q09 from 13.5 percent in 1Q09. The rest of market share is occupied by Japanese vendors(18.9 percent) and American vendors (13.9 percent), as per Fig. 2.

Fig. 2 The market share of own brand DRAM revenue, by countrySource: DRAMeXchange, Aug. 2009

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