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The NAND Flash market saw growth in the first quarter of 2024
2024-05-29

According to TrendForce consulting research, due to the widespread use of enterprise SSDs in artificial intelligence servers starting in February 2024, as well as PC and smartphone manufacturers continuing to increase inventory to combat price increases, NAND Flash revenue increased by 28.1% month on month in the first quarter of 2024, reaching $14.71 billion.


Samsung's revenue in the first quarter increased by 28.6% month on month, reaching 5.4 billion US dollars, firmly ranking first in the market. Benefiting from the increase in enterprise level SSD shipments and the rise in NAND Flash prices, it is still possible to achieve growth of over 20% in the next quarter.


NAND Flash_20240529150738_482


SK Group (including SK Hynix and Solidigm) saw a 31.9% month on month increase in revenue in the first quarter, reaching $3.27 billion. Due to Solidigm's unique Floating Gate QLC technology, high-capacity enterprise SSD orders continue to grow.


Due to the impact of the production reduction strategy in the fourth quarter of last year, the shipment volume of Armor Xia only increased by 7% month on month in the first quarter. However, benefiting from the increase in the average price of NAND Flash, its revenue in the first quarter increased by 26.3% month on month, reaching 1.82 billion US dollars.


This quarter, Micron surpassed Western Data and ranked fourth. Mainly due to lower than expected prices and shipments in the fourth quarter of 2023, Micron's revenue in the first quarter increased by 51.2% compared to the previous quarter, reaching 1.72 billion US dollars.


Due to a significant decline in retail market demand since February this year, Western Digital's sales in the first quarter only increased by 2.4% compared to the previous quarter, reaching $1.71 billion.


According to industry forecasts, benefiting from the doubling of high-capacity enterprise SSD orders, the average price of NAND Flash products will increase by 15% in the second quarter, and there is a chance for NAND Flash revenue to grow by nearly 10% in the second quarter.


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