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TrendForce reports that smartphone production—fueled by reduced channel inventories and spikes in seasonal demand—saw a significant uptick in 3Q23. Global smartphone production in the third quarter reached approximately 308 million units, marking a 13% QoQ increase. Although this figure has yet to reach pre-pandemic levels, it represents a 6.4% YoY increase, effectively ending an eight-quarter streak of annual declines.
TrendForce’s research indicates a dynamic third quarter for the global foundry industry, marked by an uptick in urgent orders for smartphone and notebook components. This surge was fueled by healthy inventory levels and the release of new iPhone and Android devices in 2H23. Despite persisting inflation risks and market uncertainties, these orders were predominantly executed as rush orders. Additionally, TSMC and Samsung’s high-cost 3nm manufacturing process had a positive impact on revenues, driving the 3Q23 value of the top ten global foundries to approximately US$28.29 billion—a 7.9% QoQ increase.
TrendForce reports a pivotal shift in the NAND Flash market for 3Q23, primarily driven by Samsung’s strategic decision to reduce production. Initially, the market was clouded by uncertainty regarding end-user demand and fears of a subdued peak season, prompting buyers to adopt a conservative approach with low inventory and slow procurement.
Looking ahead to Q4, while suppliers are firmly set on price hikes, with DRAM contract prices expected to rise by approximately 13–18%, demand recovery will not be as robust as in previous peak seasons. Overall, while there is demand for stockpiling, procurement for the server sector remains tentative due to high inventory levels, suggesting limited growth in DRAM industry shipments for Q4.
TrendForce’s latest investigations reveal that the battery industry’s operating rate fell in November due to a significant cooling in end-user demand. Falling prices of key raw materials like lithium, cobalt, and nickel led to a consistent downward trend in battery cell prices. In November, prices of Chinese EV battery cells dropped by approximately 3–4% MoM, consumer LCO cells decreased by 2.5%, and storage-type cells fell the hardest at 6.8%.
