Memory prices have fallen due to poor consumer memory product sales in the first half of 2024.

August 31, 2024 (excerpt)

The memory market has been struggling in the first half of 2024. According to TrendForce's report, the spot prices of memory products have plummeted due to the sluggish demand for consumer electronic equipment. The investigation revealed a decline of over 30% in the second quarter compared to the first quarter.
This is attributed to the weak demand for smart phones and personal computers. In China, there is an excess inventory of smart phones, and consumers are increasingly waiting for the release of AI-equipped models for PCs. These factors are contributing to the contraction of the memory market.