Enterprise market demand slowed down in the first quarter, with the global NAND market size decreasing by 25% quarter-on-quarter.

After consecutive quarters of high growth, enterprise SSDs were affected by delays in some data center projects, leading to a decrease in sequential purchasing demand in the first quarter. The slowdown of enterprise SSDs as a key growth engine broke the pattern of "server demand offsetting weak consumer end", resulting in a very weak performance of overall NAND Flash demand in Q1, with an obvious oversupply in the market. The global NAND Flash market size in the first quarter reached $13.01 billion, a decrease of 25.3% compared to the previous quarter and 14.2% year-on-year.