The NAND flash industry's combined revenue increased by 24.5% in Q4 2023 compared to Q3 according to a new report from TrendForce, meeting expectations of 20% or higher growth. This growth is likely due to companies cutting NAND production and increasing prices, which have risen by around 40% since last summer. TrendForce expects the revenue to continue growing in Q1 2024, and is predicting 20% higher revenue compared to Q4 2023.
The flash industry's revenue in Q4 of last year was $11.49 billion, up 24.5% compared to Q3 ($9.23 billion). Nearly every big company saw gains in Q4 — most notably Samsung, at 44.8%, and SK hynix plus Solidigm, at 33.1%. Smaller manufacturers, which make up about 5% of the market, also saw their revenue increase by 32.3%. Micron's revenue, however, actually went down 1.1%, which TrendForce says was due to supply reductions.
