NAND Flash Market Bulletin - Oct. 1, 2025

Last Modified

2025-10-01

Update Frequency

Weekly

Format

PDF

The NAND Flash market is robust, driven by enterprise SSD and AI demand, pushing up contract and spot prices. Micron, leveraging QLC technology and data center SSDs, has successfully transformed and anticipates continued revenue and margin growth.

Key Highlights

Market Trend: The NAND Flash market is strong, driven by enterprise SSD and AI demand, leading to widespread price increases in both contract and spot markets, now seller-dominated. Suppliers are actively boosting QLC production.
Micron Performance & Outlook: Micron reported robust FY4Q25 revenue with rising NAND Flash ASPs. FY1Q26 revenue and gross margin are projected to increase further, fueled by AI applications and HDD shortages.
Micron's Core Strategy: The company prioritizes QLC technology and data center SSDs, with G9 QLC already in AI systems. Its strategy aims to expand market share through high-density and cost-effective solutions.
TrendForce's View: Micron's successful transformation is attributed to QLC differentiation and deep focus on data center SSDs. By shifting from mobile NAND Flash to high-margin segments, it's poised for future profit and market share growth.

Market Update
TrendForce's View
- Micron's Consolidated Gross Margin (Encompassing DRAM and NAND Flash)
- TrendForce's Estimation of Bit Market Share of enterprise SSD

TrendForce’s Estimation of Bit Market Share of enterprise SSD