It hasn't felt t like there's been much significant performance increases or development in RAM in the last.. decade? Definitely not following moores law (if that even applies here). So if youve spent your time price fixing for the western market instead of developing technology to keep you ahead, then second rate competitors will eventually catch up and cut a huge portion of your market share, and enjoy those inflated prices instead of you. This of course is my very uninformed take, and probably completely inaccurate.
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To be honest DRAM was dirt cheap for quite a while and the profit margins of those companies were razor thin. Only recently they saw a surge in demand and they are exploiting it to enrich themselves but also increasing the manufacturing capacity is a lengthy and costly process which I presume some of those companies are actively trying to delay, in order to preserve their fat profit margins now.
Competition is good though and hopefully will lower the price overall faster.
Well, sort of, we're currently manufacturing high end ram by shooting gamma rays at an ultra smooth deflection mirror and moving the silicon back and forth on the other side, so we're hitting the physical constraints of our manufacturing capability.