Korea's Hynix Semiconductor announced it has raised contract prices for DRAM chips by about 15 percent in April with further increases likely this month. Hynix is the second largest producer of memory chips behind Samsung Electronics. The price increases come after a long downturn in prices due to oversupply and reduced demand. As chip makers cut back on spending they are looking for an end to the downward price spiral ahead of the back-to-school and holiday spending seasons. Other makers such as Japan's Elpida have also recently raised prices. Flying n the face of this expected recovery is Samsung's announcement it expects to double DRAM shipments this year would could soften any expected recovery in prices and put further pressure on its rivals.