Global NAND flash memory revenue increased by 7.4% month-on-month in 2023Q2
In its report on the NAND flash market for the second quarter of 2023, TrendForce unveiled an industry revenue sequential growth of 7.4%, approximating $9.338 billion. The survey suggested that the demand for NAND flash storage in Q2 2023 remained stagnant, perpetuating the previous state of oversupply. Consequently, this resulted in a continued decline in the average selling price (ASP) of NAND flash by 10-15% for the quarter. However, bit shipments saw a commendable sequential surge of 19.9%.
Samsung, commencing from Q2 2023, initiated production cutbacks, further amplifying this scale in the third quarter as a precursor to potential price hikes. Given that inventory levels across manufacturers remained elevated, the majority opted for proactive sales. TrendForce forecasts a decline in the average price of NAND flash products between 5-10% for Q3 2023. With bit shipments set to rise in preparation for the peak season, the industry’s revenue is projected to sustain growth, surpassing 3%.
For the mentioned quarter, Samsung retained its paramount position, albeit with a slight revenue contraction of 1%, amassing approximately $2.9 billion. Kioxia persevered in second place, witnessing a sequential decline of 1.3%, amounting to roughly $1.83 billion. The SK Hynix conglomerate (comprising SK Hynix and Solidigm) ascended to the third position. With benefits accrued from reduced SSD inventory in channels and an uptick in storage capacity in the consumer electronics market, their bit shipments soared, stimulating a revenue increase of 26.6% to $1.67 billion. Western Digital occupied the fourth position, achieving a sequential revenue growth of 5.4%, approximating $1.38 billion. Micron, among all manufacturers, experienced the most robust growth of 27.6%, reaching $1.21 billion. This augmentation can be attributed to a reduction in its PC and mobile market client inventory and a surge in average SSD storage capacity in client devices, culminating in a record-breaking bit shipment for the season.