Who Makes What in Memory: DRAM, NAND and HBM Across Asia and the US

The memory makers on the map deal in two kinds of chip. DRAM is working memory that loses its contents when the power goes off. NAND flash keeps data without power and goes into SSDs, phones and removable storage, as Micron’s annual report describes them. HBM (high-bandwidth memory) is not a third kind: Micron’s annual report describes it as “a 3D stacked DRAM architecture,” DRAM chips piled up and wired through the silicon. Of the companies on the Memory map, only three say in their own filings that they make all three: Samsung Electronics, SK hynix and Micron. Kioxia and SanDisk make NAND flash, together. Nanya and Winbond make smaller amounts of DRAM, and Winbond also makes flash. Phison makes no memory chips at all; it designs controller chips for flash storage.

Who does what, at a glance?

The table covers the eight companies the Memory map shows as memory companies, plus Macronix, which appears on the Taiwan map. A dash means the company’s own filings and product pages do not list that product.

Company	Home market & code	DRAM	NAND	HBM	Other role
Samsung Electronics	KRX 005930	Yes	Yes	Yes	Foundry, System LSI chips, phones, TVs, displays
SK hynix	KRX 000660; Nasdaq ADS SKHY	Yes	Yes	Yes	Solidigm SSDs (former Intel NAND unit)
Micron Technology	Nasdaq MU	Yes	Yes	Yes	NOR flash
Kioxia Holdings	Tokyo (TSE Prime) 285A	—	Yes	—	SSDs; runs Flash Ventures with SanDisk
SanDisk	Nasdaq SNDK	—	Yes, via Flash Ventures	—	SSDs, cards, USB drives; designs its own controllers
Nanya Technology	TWSE 2408	Yes	—	—	DRAM modules
Winbond Electronics	TWSE 2344	Yes	Yes (code storage)	—	NOR flash
Phison Electronics	TPEx 8299	—	—	—	NAND controller chips, SSDs, flash modules
Macronix	TWSE 2337	—	Yes	—	NOR flash, ROM

Who makes DRAM?

Three large makers and a few smaller ones. TrendForce estimated second-quarter 2026 DRAM industry revenue at nearly US$154.73 billion. Its release put Samsung at $60.98 billion (39.4% share), SK hynix at $38.59 billion (24.9%) and Micron at $36.0 billion (23.3%).

DRAM is most of the business for SK hynix and Micron. DRAM products made up 77.3% of SK hynix’s sales in the first quarter of 2026, according to its US prospectus. Micron reported US$100.68 billion of DRAM revenue for the fiscal year ended September 3, 2026, out of US$133.19 billion in total, or about 75.6%. Micron’s year does not follow the calendar; see how Micron’s fiscal calendar works.

Nanya Technology calls itself “a company dedicated to the R&D, design, manufacturing, and sales of DRAM.” Winbond lists DDR and low-power DRAM among its products and says it verified a DRAM product on its own 16nm process in September 2025. TrendForce put Nanya’s second-quarter DRAM revenue at $2.612 billion and Winbond’s at $998 million. Against the $154.73 billion total, those are about 1.7% and 0.6%. TrendForce describes both as “focused on mature-process products.” Winbond’s consolidated revenue also includes Nuvoton Technology, a subsidiary, according to its monthly revenue release.

Micron’s 10-K also names two Chinese DRAM and NAND makers among its competitors: ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC). Neither is on the Memory map.

Who makes NAND flash?

Five large makers. TrendForce’s ranking for the second quarter of 2026 put the combined revenue of the top five NAND flash brands at US$68.87 billion:

Rank	Company	Q2 2026 NAND revenue (TrendForce)
1	Samsung	nearly $23.06 billion (29.3% share)
2	SK hynix Group, incl. Solidigm	more than $14.27 billion
3	Micron	$11.85 billion
4	Kioxia	about $10.72 billion (13.6% share)
5	SanDisk	nearly $8.97 billion

SK hynix’s NAND business includes Solidigm, the US subsidiary that runs the NAND and SSD business it took over from Intel; SK hynix says it paid US$6.6 billion in December 2021 and US$2.2 billion in March 2025.

Samsung calls its NAND flash “V-NAND.”

Winbond and Macronix make flash too, for a different job. Winbond’s product list includes NOR flash and QSPI, Octal and ONFI NAND under “Code Storage Flash.” Macronix says it “provides a full range of NOR Flash, NAND Flash, and ROM products” and owns one 12-inch and one 8-inch wafer fab in Taiwan.

How do Kioxia and SanDisk share their factories?

They run three joint companies, Flash Partners, Flash Alliance and Flash Forward, which SanDisk calls Flash Ventures. According to SanDisk’s 10-K:

• Kioxia owns 50.1% of each entity and SanDisk 49.9%.
• The ventures operate across eight manufacturing facilities in Japan: six in Yokkaichi and two in Kitakami.
• Kioxia owns the facilities and makes the wafers at cost. Flash Ventures accounts for about 80% of the manufacturing capacity in Kioxia’s facilities.
• Each partner is generally entitled to 50% of the output.
• All of SanDisk’s flash memory wafers come from Flash Ventures. While the ventures operate, SanDisk may not make flash memory itself, with limited exceptions, and both partners are restricted from working with third parties to make it.

The two companies co-develop the flash technology and jointly own it. On August 27, 2026 they announced planned investments of over US$31 billion (about 5 trillion yen) in Japan through 2032, contingent on government support. The same release says that in January 2026 they extended the joint venture framework at Yokkaichi through December 2034.

So two listed companies, Kioxia in Tokyo and SanDisk on Nasdaq, take their flash from the same plants. SanDisk became independent of Western Digital on February 21, 2025. Kioxia, formerly Toshiba Memory, describes itself as “a global leader in flash memory and SSDs”; its product pages list flash memory and SSDs, and no DRAM. For the two ways to own Kioxia shares, see Kioxia’s Tokyo shares and its US ADR.

Who supplies HBM?

The same three DRAM makers, and no one else on the map.

• SK hynix’s prospectus says it was the first company to mass-produce multiple generations of HBM, including HBM3 and HBM3E, and developed HBM4 in 2025.
• Samsung said in its second-quarter 2026 results that it “scaled up HBM4 sales” and shipped the industry’s first HBM4E samples. Its Foundry Business cited demand for HBM base dies; Samsung’s HBM page describes a “4 nm foundry-based logic base die” in its HBM4E.
• Micron’s 10-K says its Cloud Memory Business Unit handles “HBM for all data center customers.”

Counterpoint Research estimated HBM revenue shares for the second quarter of 2026 at 50% for SK hynix, 33% for Samsung and 18% for Micron. The two Korean makers are compared in detail in how Samsung and SK hynix compare in HBM.

Who offers memory products without making memory chips?

Memory modules and SSDs are often put together by companies that source the chips. Micron’s 10-K says its components business supplies DRAM and NAND to channel partners who package them into DRAM modules and SSDs for third parties. Its own Crucial-brand consumer modules and SSDs ended with an exit announced in December 2025. SanDisk’s 10-K lists “numerous smaller companies that assemble flash into products” among its competitors.

Phison is the one such company on the Memory map. It describes itself as “a leading provider of NAND controller ICs and AI storage solutions.” Micron’s 10-K notes that many of its own system-level products “combine NAND, a controller, firmware, and in some cases DRAM.” Phison’s ESG report says manufacturing of its chips “is fully outsourced to semiconductor foundries,” modules are built by outside manufacturers, and “the Group does not manufacture products in-house.” It reports long-term partnerships with NAND makers including Kioxia, Micron, SanDisk, Samsung, SK hynix and YMTC.

SanDisk designs most of its own controllers too, and has them made by third-party foundries. On the Taiwan map, Transcend and ADATA also carry a memory label; their own sites list finished products. Transcend lists memory modules, flash memory cards, USB flash drives and SSDs, and ADATA’s industrial unit lists SSDs, DRAM modules and memory cards.

Why are equipment makers on the Memory map?

The map adds four companies whose tools are used to make HBM. Their own materials say:

• Hanmi Semiconductor lists “HBM TC Bonder” machines in its product line-up.
• Advantest says its T5503HS2 tester handles high-bandwidth memory (HBM) devices.
• DISCO said that in April to June 2026 its dicer and grinder sales for memory rose from the previous quarter “mainly for HBM used in generative AI.”
• Tokyo Electron told investors on April 30, 2026 that it maintains “a very high market share in the interconnect process which is growing for HBM” and that its bonder/debonder sales for HBM are growing. DRAM customers took 31% of its new chip-equipment sales in the year ended March 2026.