Kioxia IPO and COVID-19 pandemic: what will change in the NAND landscape – LIVE MARKET BRIEFING

Prior to the COVID-19 outbreak, 2020 was poised to be a strong year for the NAND market, which was starting to emerge from a prolonged downturn that spanned much of the past two years. Although some markets experienced increased demand as many transitioned to working from home and online services, overall demand growth for NAND has been reduced in 2020 relative to our pre-pandemic outlook. While supply-side reductions are expected as suppliers temper investments, it will unlikely be enough to keep supply and demand balanced. As a result, the NAND recovery is expected to be muted compared to prior expectations.

The longer-term implications of the pandemic on the NAND market remain unclear, but the macroeconomic impacts will almost certainly be a headwind to the industry. In addition to pandemic-related market uncertainty, a new player from China is poised to enter the market. YMTC (Yangtze Memory Technology Co.), based in Wuhan, China, is likely to emerge in the coming years with significant wafer capacity, novel technology, abundant financing, and grand ambitions.

This Live Market Briefing will explore in 30 minutes our outlook for the NAND market in the context of COVID-19 and provide a brief overview of Kioxia’s competitive position as they prepare to IPO during these very uncertain times.

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