US tariff hikes add industry uncertainty, making contract talks cautious. NAND Flash spot prices pressured by weak demand and competition; smartphone market prices are hard to increase. Unless sudden demand surges or major supply cuts occur, prices are unlikely to rise.

Key Highlights

• New US tariffs impact memory and electronics supply chains in Japan, Korea, and Southeast Asia, increasing industry uncertainty, which leads to cautious contract negotiations and more prudent inventory strategies in the second half.
• NAND Flash spot market remains weak due to soft consumer demand and price expectation gaps between buyers and sellers, further reducing transaction willingness.
• Dual-sided supply-demand pressure: demand remains sluggish due to fading Chinese subsidies, conservative brand purchasing, and stagnant market growth; upgrades do not drive higher storage demand.
• On the supply side, fierce competition from Chinese suppliers weakens international firms’ bargaining power; buyers dominate price negotiations, and suppliers trend towards concessions to maintain market share.
• Smartphone-related NAND Flash prices are unlikely to rise significantly in the short term; suppliers must look to AI, server, and automotive markets for future profitability.

Table of Contents

1. Market Update
2. TrendForce's View
   • Mobile NAND Flash (eMMC/ UFS) Update and Forecast, 2Q25-4Q25

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