Analysts had expected 2020 to be a year of rising NAND flash prices after a supply glut in 2019. The reasoning, backed by years of repeating patterns, was that after an oversupply, vendors like SK Hynix and Micron would slow production to drive prices up.
Cue COVID-19 and the ensuing chaos.
TrendForce, a market research firm that follows the memory market, said there has been a general decline in contract prices starting last quarter due to oversupply. This oversupply situation is attributed to the accumulation of inventory caused by the economic fallout from the COVID-19 pandemic.
