Trendforce released a report on the NAND flash memory market for the third quarter of 2023, showing that industry revenue increased by 29%, with revenue of about 92$2.9 billion, and the number of bits shipped also increased by 3% month-on-month. According to Trendforce, buyers believe that terminal demand is still low and are worried about the lack of peak season, so they choose to keep inventory low and slow delivery. However, the turning point in the third quarter was Samsung's aggressive production cuts, which made buyers' purchasing attitudes more positive. 
Samsung has been cutting production since the second quarter of 2023 and has expanded it in the third quarter in preparation for its price increase. In the third quarter of 2023, Samsung's revenue was basically the same as the second quarter, at $2.9 billion, with average sales** (ASPs) rebounding 1% to 3% and bit-to-bit shipments decreasing 1% to 3% quarter-on-quarter. SK hynix group (SK hynix + solidigm) ranked second, surpassing Kioxia, with bit shipments up quarter-on-quarter and revenue up 119%, which reached about 18$600 million; Western Digital came in third, rising one spot with revenue of 15$5.6 billion, up 13% sequentially; Kioxia fell from second to fourth, and although the average sales were 3%, the bit shipments decreased by 10% to 15% month-on-month, resulting in a decrease in revenue of 86%, down to 13$400 million; Micron maintained its fifth position, with bit-level shipments unchanged from the previous quarter, average sales** down 15% quarter-on-quarter, and revenue down 52%, down to 11$500 million.
Looking ahead to the fourth quarter of this year, NAND flash memory will increase both volume and price, with an estimated average sales** of 13% and revenue growth of more than 20% sequentially.