Samsung Electronics has taken the lead in high-bandwidth memory (HBM) shipments, according to export data from South Korea that underscores the company’s strengthening position in the global memory market. Data for July showed Korean HBM exports rose 13% quarter-over-quarter and surged 64% year-over-year, though a 32% month-over-month decline reflected seasonal softness.
Export figures from South Chungcheong, home to Samsung’s HBM packaging facilities, surged 122% quarter-over-quarter, contrasting sharply with declines of about 27% in North Chungcheong and Icheon, regions where SK Hynix operates. Exports to Malaysia, a key hub for SK Hynix’s operations, totaled $1.3 billion in July, driven primarily by the company’s shipments.
Samsung’s value-per-weight metric—a measure of export revenue relative to volume—climbed 21% month-over-month and has doubled from prior levels, while SK Hynix’s metric saw only a modest increase. Bernstein attributed the divergence to delays in SK Hynix’s HBM4 shipments for Rubin, a critical customer, which weighed on the company’s performance.
Analyst projections from Bernstein indicate Samsung’s HBM revenue could rise 80% quarter-over-quarter in Q3 2026, exceeding the firm’s prior forecast by 30%. Conversely, SK Hynix’s HBM revenue is forecast to decline 20% quarter-over-quarter in Q2 2026, falling short of market expectations. The data highlights Samsung’s accelerating momentum in HBM4 production, while SK Hynix faces near-term headwinds tied to supply chain and customer delivery timelines.
