MEMORY MARKET · MR IT
Why Are Memory Prices Going Up? What It Means for SD Cards, SSDs and USB Drives
Memory cards, USB drives and SSDs have not become more expensive by accident. Here is what is pushing prices up in 2026, what the analysts expect next, and how to buy sensibly.
If you have shopped for a memory card, a USB drive or an SSD recently, you may have noticed that the price you paid last year no longer buys the same capacity. This is not a one-off promotion ending, and it is not limited to Singapore. Prices for the memory chips inside these products have been climbing worldwide since 2025.
What are DRAM and NAND flash?
Two kinds of memory chip matter here. DRAM is the working memory (RAM) in computers and phones. NAND flash is the storage chip. It is what sits inside SD and microSD cards, USB flash drives, SSDs and the built-in storage of most phones.
The same few companies make most of both types, and both are affected. For memory cards and drives, NAND flash is the one to watch.
Why prices are rising
AI is buying the supply
Data centres that train and run AI need huge amounts of fast storage. Market research firm TrendForce expects demand for enterprise SSDs to grow by more than 80% year on year in 2026.
Production moved elsewhere
According to NAND Research, Samsung, SK hynix, Kioxia and Micron scaled back NAND production in the second half of 2025, and Samsung and SK hynix have said they do not plan aggressive expansion.
New factories take years
Micron broke ground on a US$9.3 billion memory plant in July 2026, with production expected in 2028. Extra capacity from new plants is not expected to arrive in meaningful volume before late 2027 at the earliest.
The biggest cloud companies are also spending heavily. NAND Research, citing Goldman Sachs estimates, puts the 2026 spending of Amazon, Microsoft, Google, Meta and Oracle at about US$755 billion combined, up 83% on the year before. Memory is a growing part of that bill.
How big are the increases?
Most published figures are contract prices: what chip makers charge large buyers such as card and drive manufacturers. Here is how the numbers have moved, according to the sources listed at the end of this article.
| Period | Change | Source |
|---|---|---|
| Q1 2026 | About +50% to +60% | NAND Research (May 2026) |
| Q2 2026 | A further rise of roughly 70% was estimated | NAND Research projected +70% to +75%; later coverage cited about +70% |
| Q3 2026 | +10% to +15% projected | TrendForce, as reported in August 2026 |
| Q4 2026 | +15% to +20% projected | TrendForce (30 September 2026) |
In plain words: the pace of increase has slowed from the early-2026 jumps, but prices are still rising, and they are rising from a much higher base. TrendForce also says that wafer prices have reached levels that retail channels are increasingly unable to absorb, and that some suppliers are restraining the size of increases for PC SSDs. That is one reason shelf prices do not move in step with contract prices.
For a sense of scale on the consumer side, StorageSwiss reported in May 2026 that some 1TB consumer SSDs had gone from roughly US$45 to nearly US$90 since late 2025.
Why do consumer products feel it?
A memory card or USB drive is built from the same NAND flash as the chips going into data centres. When the chip makers sell most of their output to large buyers on long-term contracts, shoppers and small brands end up at the back of the queue. NAND Research describes consumer and client buyers as remaining behind enterprise customers.
Device makers are adjusting too. TrendForce notes that some brands are reducing SSD capacities in mainstream laptops to hold down costs. Micron has also stepped away from its Crucial consumer brand, a sign of where the industry is putting its attention.
How long will it last?
Nobody knows, and the experts disagree:
- Micron’s chief executive said in June 2026 that tightness would continue through 2027, with gradual improvement by 2028.
- A Samsung executive has said the shortage will continue through 2028, and SK hynix leaders have pointed to 2030.
- Acer’s chief executive has taken a more optimistic view, expecting prices to fall from late 2027 as additional supply arrives from China.
Treat all of these as forecasts. Forecasts in this industry have changed quickly.
What does this mean if you are buying?
Buy for what you need
Choose the capacity and speed class that suits your camera, phone or drone. Paying for more than you need costs more than it used to.
Expect prices to move
We cannot predict prices. For our pre-order items, the price shown follows our distributor’s list and can change before you pay. We confirm the price and availability when you ask.
Back up what matters
Cards and drives can fail whatever they cost. Keep a second copy of anything you cannot replace.