Wang Wang Q4 revenue contrarian increased last year | Nor is still in short supply this year

Macronix revenue in the fourth quarter of last year to maintain the performance of the contrarian growth, the overall Nor flash is still quoted prices, Outlook Nor flash market this year, the overall market demand is still growth, while the supply side is mainly observed that mainland industry capacity out of the situation Overall, Nor flash is still expected to be in short supply this year, but the rate of increase slowed down. There are still off-season seasonal factors in the short term in the first quarter.

According to Wang Wang's product mix, revenue from the point of view, the third quarter of last year accounted for 14% of Nand Flash, Nor flash accounted for 48%, ROM accounted for 32%, foundry 6%.

In the near term, Wang Hong's revenue in the fourth quarter of last year dropped month by month mainly due to the peak of Nintendo's ROM pull-in since the third quarter of last year. However, the market condition of Nor flash is still healthy and is quoted in the fourth quarter of last year The overall trend is still the fourth quarter of last year, Wang Hong revenue growth is still quarterly performance.But the first quarter of short-term point of view, the market is still seasonal off-season factor, in the past Mong Wang will be prepared in the off-season Proper inventory, so the capacity utilization rate will still be maintained at a certain level.

In this year Nor flash supply side, the market is mainly to observe the capacity of mainland industry out of the situation, which is more focused on the profits of innovation in SMIC's production support, will release new supply, affecting the market supply and demand However, on the other hand, it remains to be seen whether the quality and yield of the Chinese manufacturers will be stable and whether the small and medium-sized factories mainly focus on the low-capacity Nor flash products, which will affect the stability of Nor Flash at medium and high capacity.

In the demand segment, this year is optimistic about Nor flash applications and demand continued to rise, including AMOLED applications in mobile phone penetration rate, which led to the need to plug a Nor flash demand increase, in addition, the Internet of Things devices to increase, etc. As a whole, the overall demand for Nor flash is still in short supply this year, but Nor flash has risen more than 2-3% last year. This year's increase will slow down.

On the other hand, Nor flash accounts for less than 1% of the total cost of terminal electronic products (including set-top boxes, televisions and mobile phones) due to its relatively low cost. Therefore, Is still acceptable price increases.