Based on data from market research firm Sigmaintell, the global memory market maintained a tight supply-demand balance in the third quarter of 2026, with prices for both DRAM and NAND continuing to rise sequentially across all product categories.
However, compared with the sharp price surge experienced in the second quarter, the pace of price appreciation slowed significantly during this period. The quarter-on-quarter growth rate narrowed considerably, and structural differentiation across different market segments further intensified.
The core reason behind this shift lies in the sustained increase in memory chip prices, which substantially raised the bill of materials (BOM) costs for downstream terminal manufacturers. As these manufacturers grew less willing to accept high prices, some began delaying their component orders, prompting suppliers to scale back their price hike ambitions for the third quarter.
DRAM segment: Prices continue to climb but terminal restocking slows, with consumer-grade product growth narrowing sharply
The DRAM market maintained its upward pricing trend in Q3 2026, yet acceptance levels varied markedly across downstream sectors. According to Sigmaintell data, the price of a 16GB DDR4 module rose by 16% quarter-on-quarter. While manufacturers still intend to push prices higher, PC terminal makers have become more conservative in their procurement due to BOM cost pressure, weakening the momentum for further DDR price increases.
The price gains for mobile LPDDR memory were even more constrained by slower terminal restocking. Data shows that LPDDR4X (4GB) prices rose by just 7% sequentially, while high-end LPDDR5X (12GB) increased by only 3%. The multiple rounds of earlier price increases had already significantly inflated the total cost of smartphones. As a result, mobile phone brands have shown low acceptance of current memory quotes, opting to proactively control their inventory and placing orders only for the essential demands of premium flagship models.
Additionally, some traders in the spot market chose to liquidate their holdings at lower prices to lock in profits, further capping the upside for mobile DRAM prices. Sigmaintell believes that the third quarter marks a period of intense negotiation between DRAM suppliers and terminal manufacturers. Although demand from AI computing remains supportive, procurement from consumer terminals is being suppressed, intensifying market bargaining and leading to a considerable moderation in overall price growth.
NAND Flash segment: SSD price hikes remain resilient, while mobile segment loses pricing elasticity on cost controls
NAND Flash prices continued to rise sequentially in Q3 2026. Sigmaintell data indicates that a 512GB PCIe4.0 SSD recorded a 14% quarter-on-quarter increase this quarter. Enterprise-grade demand provided some support, but consumer PC clients have shown declining acceptance of higher prices, with their purchasing and stocking intentions also weakening in tandem.
Price appreciation in the mobile storage sector was notably more constrained, as the 256GB UFS3.1 solution rose by only 11% quarter-on-quarter. High BOM cost pressure in the smartphone segment prompted brands to proactively reduce their inventory purchases. Meanwhile, some spot market traders who had accumulated profits earlier chose to clear their stock at lower prices, causing spot pricing to soften and limiting the ability of mobile NAND to sustain substantial price growth.
Although high-end smartphone storage configurations have not been downgraded, elevated prices are suppressing the scale of terminal procurement. In summary, the storage market remained in an upward cycle during Q3 2026, but the rapid and substantial price gains in the first half of the year have pushed the market into a new phase characterized by supply-demand negotiation and moderating price increases.