Global NAND flash revenue grew 7.4% quarter-on-quarter in Q2, but market demand remains weak

According to news from this site on September 13, TrendForce recently released a report. The market demand for NAND Flash in the second quarter is still sluggish, and the oversupply situation continues , which makes the average selling price (ASP) of NAND Flash in the second quarter ) continued to fall by 10~15%, while bit shipments increased by 19.9% ​​month-on-month under the low base period in the first quarter. Total NAND Flash industry revenue in the second quarter increased by 7.4% month-on-month, with revenue of approximately US$9.338 billion. (Note from this site: The current amount is approximately RMB 68.167 billion).

TrendForce said that starting from the second quarter, Samsung has joined the ranks of production cuts, and is expected to expand the scope of production cuts in the third quarter. While supply is converging, price increases are also brewing. The oversupply situation is expected to be improved as a result.

However, due to the large number of suppliers in the NAND Flash industry, most manufacturers still choose to actively sell products in the third quarter despite high inventory. It is estimated that the average price of all NAND Flash products will decline in the third quarter It has converged to 5~10%, and bit shipments will increase with the momentum of peak season stocking. It is estimated that NAND Flash industry revenue will continue to increase by more than 3% in the third quarter.

▲ Picture source TrendForce

The highest revenue growth among all practitioners in the second quarter was Micron ( Micron), a month-on-month increase of 27.6%, reaching US$1.21 billion (currently approximately RMB 8.833 billion). The recovery in revenue performance is mainly due to the reduction of customer inventory in the PC and Mobile markets. Client SSD in particular benefited from the increase in average carrying capacity, and bit shipments hit a single-quarter high.

As the entire industry actively reduces production, Micron believes that the supply and demand situation will become healthier in the second half of the year. However, from a full-year perspective, high inventory will still suppress the recovery of the NAND Flash industry, and the entire industry is expected to remain low until 2024. degree of supply bit output.

Other companies such as SK Group (SK hynix and Solidigm), Western Digital, etc. have benefited from factors such as the continued reduction of SSD inventory in the channel market and the growth of single machine capacity in the consumer electronics market, resulting in bit shipments Volume increased significantly, which in turn drove revenue growth in the second quarter. Among them, SK Group’s revenue growth ranked second, with a month-on-month growth of approximately 26.6%; while Western Digital’s revenue growth was approximately 5.4%

Samsung and Kioxia were the only companies whose revenue declined. , although bit shipments have grown, they are still unable to cope with the impact of the decline in average selling price.

Samsung’s second-quarter revenue decreased by 1.0% quarter-on-quarter to approximately US$2.90 billion (currently approximately 21.17 billion yuan). Among them, AI servers, which the market continues to pay attention to, continue to shrink the scale of general-purpose server shipments, and business in the NAND Flash field Revenue did not benefit from the AI ​​boom; Kioxia's second-quarter revenue decreased by approximately 1.3% quarter-on-quarter to approximately US$1.83 billion (currently approximately RMB 13.359 billion).

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• The research report shows that in the second quarter NAND Flash revenue increased by 7.4% month-on-month, and is expected to grow by more than 3% in the third quarter

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