Xian Back
In our 12/2921 note, and again yesterday, we mentioned the COVID-19 lockdown in Xian, China that had affected Samsung’s (005930.KS) NAND Flash production line in that city, contributing to a less than expected decline in recent NAND prices. While the Samsung line continued to operate, with limited personnel movement and material logistic limitations, the line has been operating at less than full utilization. As of last night, Samsung has returned the fab to pre-lockdown production levels as the lockdown is lifted. With the Xian plant estimated to represent ~42.5% of Samsung’s NAND production and Samsung holding a ~34% NAND market share, the Xian lines are quite important to both Samsung and the global NAND market covering 14.45% of total global NAND revenue.
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