NAND Flash Revenue Surges in Q1 2024 with Promising Outlook for Q2
TapTechNews May 29th news, according to TrendForce research, due to the extensive adoption of enterprise-class (Enterprise) SSD in AI servers since February and the continuous increase of inventory by PC and smartphone manufacturers in response to price hikes, the NAND Flash revenue in the first quarter of 2024 increased by 28.1% quarter-on-quarter to 14.71 billion US dollars (TapTechNews note: currently about 106.647 billion Chinese yuan).
The revenue of Samsung in the first quarter increased by 28.6% quarter-on-quarter to 5.4 billion US dollars, firmly occupying the top position in the market. Benefiting from the increase in the shipment of enterprise-class SSD and the rise in NAND Flash prices, it is still likely to achieve more than 20% growth in the next quarter.
The revenue of the SK Group (including SK Hynix and Solidigm) in the first quarter increased by 31.9% quarter-on-quarter to 3.27 billion US dollars. Due to Solidigm's unique FloatingGate QLC technology, the orders for large-capacity enterprise-class SSD have continued to grow.
Kioxia was affected by the production reduction strategy in the last quarter of last year, and the shipment in the first quarter only increased by 7% quarter-on-quarter, but benefited from the increase in the average price of NAND Flash, which drove the revenue in the first quarter to increase by 26.3% to 1.82 billion US dollars.
Micron surpassed Western Digital this quarter and ranked fourth. Mainly because Micron's price and shipment in the fourth quarter of 2023 were lower than expected, and the revenue in the first quarter increased by 51.2% quarter-on-quarter to 1.72 billion US dollars.
Western Digital's revenue in the first quarter only increased by 2.4% quarter-on-quarter to 1.71 billion US dollars due to the significant shrinkage of retail market demand since February this year, affecting the shipment.
TrendForce predicts that benefiting from the doubling of orders for large-capacity enterprise-class SSD, it will drive the average price of NAND Flash products to rise by 15% in the second quarter, and there is a chance for the NAND Flash revenue to increase by nearly 10% in the second quarter.