Demand for 3D NAND memory dropped sharply during the third quarter of 2022, causing the overall NAND manufacturing industry’s revenue to drop 24.3% quarter-over-quarter, according to research (opens in new tab) from market intelligence firm TrendForce.

The NAND Flash industry recorded total revenue of around US$13.71 billion for 3Q22, which Trendforce linked to below-expectation numbers in terms of overall shipments of end products, such as consumer electronics, workstations, and servers, linked to a generally pessimistic economic outlook and lower capital expenditures from firms.

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