China’s CXMT Surpasses 10% DRAM Market Share, Accelerating Its Pursuit of the ‘Big Three’

[Financial News] Chinese memory-chip maker CXMT captured a double-digit share of the global DRAM memory market for the first time. As the combined share of the established “Big Three”—Samsung Electronics, SK hynix, and Micron Technology—declined, CXMT’s pursuit has become increasingly evident.
According to market researcher Counterpoint Research on the 3rd, CXMT accounted for 10% of global DRAM market revenue in the second quarter of this year. This was the first time CXMT’s quarterly market share reached double digits.
CXMT’s share, which was below 1% in 2023, expanded rapidly from 4% in the second quarter of last year to 8% in the first quarter of this year and 10% in the second quarter.
The market shares of the three major DRAM suppliers—Samsung Electronics, SK hynix, and Micron Technology—moved in different directions. Their combined share fell by 7 percentage points over the past year, from 94% to 87%. Samsung Electronics held 38%, up 5 percentage points from the same period last year, while SK hynix stood at 25%, down 14 percentage points over the same period. Micron Technology, ranked third, held about 24%, up 2 percentage points from a year earlier.
CXMT’s growth is attributed to shortages in the conventional DRAM market and expanded production capacity. As major memory-chip makers such as Samsung Electronics and SK hynix focused on competition in advanced memory products, including high-bandwidth memory (HBM), supplies of relatively older DRAM products became tight. CXMT moved aggressively to capitalize on the opportunity. In addition, by supplying low-power double-data-rate (DDR)6 memory for Xiaomi’s new smartphone, the “Xiaomi 18 Fold,” CXMT is seeking to challenge the advanced-memory market led by Samsung Electronics and SK hynix.
The global DRAM market boom also supported CXMT’s expansion. The global DRAM market grew 385% in the second quarter of this year from the same period a year earlier.
Industry observers expect competition between CXMT and the established Big Three to intensify, as CXMT is pursuing both production-capacity expansion and technological advancement.
[email protected] Park Ji-yeon Reporter