- Market demand for solid state drives is expected to see an increase over the last quarter.
- Samsung is anticipated to bump up prices by up to 25%.
- Current SSD prices might be the best we get for a while.
Market demand for solid state drives is increasing, and manufacturers are prepared to raise prices significantly.
According to recent reports, Samsung Electronics Co. intends to raise corporate-use solid-state drive (SSD) costs in the second quarter of 2024 by as much as 25 percent over the previous quarter.
Why it matters: Modern games like Starfield and Cyberpunk 2077 now recommend SSDs, highlighting industry-wide adoption.
The price increase is expected to be a direct result of the NAND sector’s worst-ever decline in 2023.
Due to an unanticipated spike in demand, Samsung Electronics increased prices beyond what it had originally planned to do by almost 15% over the previous quarter. NAND flash memory is used in the production of Solid State Drives or high-capacity storage devices.
Samsung Electronics has a significant influence over pricing because it has a roughly 50% market share in SSDs for corporate usage. The expansion of artificial intelligence (AI)-related storage servers by major international tech firms like Nvidia and Tesla is also one of the main reasons behind the price hike.
According to industry officials, certain products might even go through production spikes due to shortages.
From here on out, we can only anticipate a rise in demand and price in consumer and enterprise-targeted solid state drives since consumer SSDs are highly sought-after.
We will see a significant price hike in the near future, making the current price tag an obvious choice. If you’ve been waiting for an opportunity to grab more storage, now might be the right time.
The major causes of the increases are believed to be the unmet demand for large-capacity devices and the consistently high demand from Chinese and US communications service providers. It is also anticipated that some may attempt to stockpile inventories in Q2.
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[News Reporter]
Malik Usman is student of Computer Science focused on using his knowledge to produce detailed and informative articles covering the latest findings from the tech industry. His expertise allows him to cover subjects like processors, graphics cards, and more. In addition to the latest hardware, Malik can be found writing about the gaming industry from time to time. He is fond of games like God of War, and his work has been mentioned on websites like Whatculture, VG247, IGN, and Eurogamer.
