研报 | MLC NAND Flash转向利基型产品，大厂淡出供应引发供应链重组

Core Insights - The article highlights a significant reduction in global MLC NAND Flash production capacity, projected to decrease by 41.7% in 2026 due to major manufacturers exiting or scaling back production [2][4]. - Samsung, the largest supplier, announced the end of MLC NAND Flash production, with the last shipment scheduled for June 2026, leading to a supply shortage and increased prices [4]. - Demand for MLC NAND Flash remains stable, primarily driven by industrial control, automotive electronics, medical devices, and networking, although long-term growth potential is limited [4]. Supply and Demand Dynamics - The supply of MLC NAND Flash is contracting significantly, with Samsung's exit being a major factor. Other manufacturers like Kioxia, SK Hynix, and Micron are focusing on existing customer needs rather than expanding production [4]. - The market has seen a noticeable increase in demand for MLC NAND Flash since Q1 2025, resulting in price hikes due to supply shortages [4]. - The long-term supply chain for MLC NAND Flash is disrupted, creating opportunities for companies like Macronix, which is shifting focus from NOR Flash to MLC NAND Flash to meet niche demands [5]. Market Implications - The contraction in MLC NAND Flash supply is expected to lead to a more concentrated supply chain, which may alleviate previous price pressures in the NOR Flash market as Macronix reduces its NOR Flash capacity [5]. - The overall NAND Flash market may experience a reversal in sentiment if certain applications accelerate the adoption of enhanced TLC solutions, potentially putting indirect pressure on MLC product prices [4].