India, May 29 -- TrendForce's latest findings reveal that the top NAND Flash suppliers faced mounting inventory pressure and weakening end-market demand in the first quarter of 2025. Consequently, the industry saw a 15% QoQ decline in ASP and a 7% drop in shipment volume. Although some product prices rebounded by the end of the quarter, boosting demand, the combined revenue of the top five NAND Flash brands still fell sharply to US$12.02 billion-a nearly 24% QoQ decline.

Looking ahead to Q2, TrendForce expects brand revenues to increase by around 10% QoQ as end buyers gradually bring inventory back to health levels, and NAND Flash prices rebound from the bottom, coupled with U.S. tariffs driving some buyers to accelerate procurement.

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