Nanya Technology posts record profit as gross margin nears 80%

Nanya Technology’s near-80% gross margin signals DRAM has entered a high-pricing-power phase. Technologically, surging HBM demand is forcing legacy DRAM fabs to accelerate migration to 1β or even 1γ nodes, while TSMC’s CoWoS packaging bottlenecks further amplify upstream chip pricing leverage. On compliance, tightening U.S. export controls on semiconductor equipment pose operational risks for Taiwan, China-based firms; without meaningful domestic tool substitution by 2027, yield instability and capacity constraints loom. In response, Samsung and SK hynix are unlikely to match Nanya’s aggressive pricing—instead, they’ll lock in AI server OEMs via long-term supply agreements to avoid spot-market volatility. Over the next 12–24 months, the sector will bifurcate: players with advanced nodes and secure equipment access capture supernormal profits, while others retreat into niche markets.