64GB eMMC Prices Dip on Weak Demand and Market Competition

NAND raw wafer prices saw steep and sustained hikes over the six months starting from Q4 2025, which largely stretched the affordability of downstream storage vendors. Starting Q2 this year, memory original manufacturers faced mounting headwinds pushing raw material prices higher; wafer quotations from most suppliers remained flat or posted mild quarter-on-quarter growth. However, since late March, channel trading prices for some NAND wafers have diverged from official offers by memory original manufacturers and kept drifting down. In particular, spot trading prices for mainstream 512Gb TLC NAND have continued to fall with no clear sign of bottoming out. At present, trading prices for most NAND materials are noticeably below memory original manufacturers’ official quotes. That said, quotations for wafers released by individual memory original manufacturers this month still signal a firm price stabilization stance.

Turning to embedded eMMC: previously, market consensus held that memory original manufacturers would keep advancing NAND process migration, leading to sustained capacity contraction for 512Gb TLC NAND. Coupled with the discontinuation of consumer-grade MLC NAND by several overseas memory original manufacturers, applications relying on no alternative solutions would have to migrate from smaller capacities to 64GB eMMC. In reality, 512Gb TLC NAND has maintained normal supply from memory original manufacturers in H1 this year, allowing various storage vendors to build up certain inventory levels. Although MLC NAND from memory original manufacturers will become unavailable in the long run, suppliers are still drawing on existing inventory to fulfill customer orders for low-capacity eMMC in the short term. Meanwhile, memory manufacturers from China’s Taiwan region including Macronix can absorb part of relevant customer demand. From the buyer side, a meaningful price gap still exists between 8GB/16GB/32GB and 64GB eMMC. Ample short-term supply has weakened customers’ urgency for capacity migration. Additionally, capacity upgrades entail certain cost premiums. These two factors jointly curb customers’ motivation to shift to 64GB eMMC. As a result, prices of 64GB eMMC dipped slightly this week, weighed down by falling raw material trading prices, lingering weak demand, and aggressive price competition among peers.

Prices of Flash wafers and DDR die remained unchanged today.

On the channel front, channel DDR5 UDIMMs staged over one month of price rallies driven by material shortages and price hikes, with prices now climbing back to levels seen in early April. Channel customers need time to accept and digest elevated pricing, and channel brands in trading markets have shifted from hiking quotations to range-bound adjustment. The overall channel market stayed steady this week, with prices of channel DDR5, DDR4 UDIMMs and SSDs holding flat.

Since mid-last month, prices of domestic secondary-grade DDR5 die have risen consecutively, narrowing the price gap with equivalent-capacity, same-grade DDR5 die from overseas memory original manufacturers. Even so, a price difference of more than 10% still remains, leaving finished solutions built on domestic die with visible pricing advantages. If supply of domestic DDR5 die tightens and prices keep rising going forward, finished product prices adopting die from different manufacturers will likely converge. Industry-wide prices of DDR5 and DDR4 SODIMM remained stable this week. Furthermore, many PC OEMs are closely watching memory original manufacturers’ Q3 pricing strategies and adopting a wait-and-see stance in the near term, which also keeps industry SSD prices largely steady。