Q4 NAND ASPs fell 4% QoQ with bit shipments down 2% and revenues down 6.2% to $16.52bn, says TrendForce.

In the current quarter, TrendForce expects to see revenue to fall another 20% but a recovery in the market is forecast for H2.

Q4 NAND revenues down 6.2%

Samsung retained its top position but faced a 9.7% QoQ revenue decline to $5.6 billion, impacted by weak demand for consumer electronics. Moving forward, Samsung aims to focus on enterprise SSD development and adjust production plans to respond to market shifts

Kioxia, ranked third, saw enterprise SSD shipments offset weak smartphone and PC demand, limiting its Q4 revenue decline to just 0.2% QoQ, reaching $2.66 billion. The company is increasing NAND Flash layer count and significantly improving data transfer speeds, leveraging existing equipment for technological upgrades.

Micron, despite strong enterprise SSD shipments, was unable to counterbalance weak consumer demand, with Q4 NAND Flash revenue down 9.3% QoQ to $2.28 billion, placing it fourth. In 2025, Micron will cut capital expenditures on NAND Flash, slow down technology upgrades, and focus on 60 TB + SSD demand to improve profitability.

Western Digital/SanDisk, ranked fifth, saw consumer NAND product shipments exceed expectations, leading to a QoQ increase in total bit shipments. Despite falling prices, NAND Flash revenue remained flat at $1.88 billion. As NVIDIA’s Project Digits and the AI PC trend gain traction, SanDisk, a key PC SSD supplier, is expected to see steady revenue growth starting in 2Q25.