YMTC para impulsar la producción de NAND mientras los rivales coreanos se detienen

China’s Yangtze Memory Technologies Co. Ltd. (YMTC) is poised to significantly expand its production of 3D NAND flash memory chips in the coming years, aiming to close the gap with South Korea’s leading manufacturers. According to industry forecasts, YMTC’s annual NAND wafer output is expected to grow by nearly 25 percent in 2027, reaching 2.50 million units from 2.01 million in 2026. This growth is primarily attributed to the activation of its third manufacturing facility in Wuhan, which is slated to start initial operations later this year. The Wuhan plant alone is projected to see its annual output jump from 90,000 wafers this year to 575,000 in 2027. In contrast, Samsung Electronics and SK hynix, South Korea’s dominant players in the NAND market, are expected to see modest increases in their production capacities. Samsung’s NAND output is forecast to rise slightly from 4.77 million wafers to 4.85 million in 2027, while SK hynix, including its U.S.-based subsidiary Solidigm, is anticipated to increase its output from 2.79 million to 2.87 million wafers during the same period. These figures highlight the relative slowdown in Korean firms' expansion compared to YMTC’s aggressive push into the market. YMTC has already made notable strides in recent quarters. In the second quarter of 2024, the Chinese firm surpassed Japan’s Kioxia to become the world’s third-largest NAND supplier by shipment volume for the first time. However, it still ranks fifth in terms of revenue, largely due to its limited presence in the high-margin enterprise solid-state drive segment used in data centers. With rising NAND prices, YMTC is expected to improve its profitability, providing the financial backing needed for further expansion efforts. According to internal reports, YMTC has set an ambitious target of becoming the world’s largest NAND supplier by the end of 2027. This goal implies a need to more than double its current production capacity, surpassing even the projections outlined by market research firm Omdia. To achieve this, YMTC is preparing for an initial public offering (IPO), potentially as early as the fourth quarter of 2024. The IPO is expected to generate substantial capital to fund the expansion of the Wuhan plant and other fabrication facilities. Meanwhile, Samsung and SK hynix have chosen to focus their investments on DRAM and high-bandwidth memory technologies rather than expanding their NAND production capabilities immediately. As a result, their major additions to NAND capacity are not expected until after 2028. Samsung plans to construct NAND production within part of its P5 complex in Pyeongtaek, Gyeonggi Province, with phased operations starting between 2027 and 2030. SK hynix, on the other hand, intends to commence construction of its M17 fabrication plant in Cheongju, North Chungcheong Province, in February 2025, with the opening of its first clean room scheduled for December 2028. This delay in Korean companies’ NAND expansion has sparked concerns among analysts that they might face challenges in maintaining their market share as YMTC accelerates its production ramp-up. Market research firm TrendForce predicts that the increased supply from YMTC’s new capacity could lead to a loosening of the NAND market from the second half of 2027 onward, even as consumer electronics demand remains subdued. This scenario could put downward pressure on NAND prices, affecting the overall dynamics of the global semiconductor market.