TrendForce reports that NAND Flash prices continued to rise in 2Q24 as server inventory adjustments neared completion and AI spurred demand for high-capacity storage products. However, high inventory levels among PC and smartphone buyers led to a 1% QoQ decline in NAND Flash bit shipments. Despite this, ASP increased by 15% and drove total revenue to US$16.796 billion, a 14.2% growth compared to the previous quarter.

All NAND Flash suppliers returned to profitability starting in the second quarter and are expanding capacity in the third quarter to meet strong demand from AI and server markets. However, weaker-than-expected PC and smartphone sales in the first half of the year are likely to constrain NAND Flash shipment growth.
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