Third-party research firm Counterpoint Research reported in its latest NAND storage market tracking report on June 3 that global NAND (flash memory) storage market revenue reached $46 billion USD in the first quarter of 2026, with market scale nearly doubling quarter-over-quarter and growing to 3.5 times the same period last year. The surge was driven by sustained growth in AI infrastructure demand. Counterpoint stated that AI infrastructure deployment and the transition to Agentic AI remain the core growth engines for the market, with the Q1 2026 NAND market revenue already exceeding the full-year 2023 level.
Counterpoint indicated that enterprise-grade solid-state drives (eSSD) for servers accounted for 43% of total NAND market volume in the first quarter of 2026, and are expected to exceed 60% by the end of this year.
Samsung Maintains Market Lead with 29% Share as Competition Intensifies for Third Place
In terms of specific market share rankings, Samsung continued to hold its position as the market leader with a 29% market share. SK Hynix ranked second with an 18% market share. The third-place position remained closely contested, with Kioxia, Micron, SanDisk, and Yangtze Memory Technologies Co. (YMTC) holding similar market shares. Driven by strong demand, the three companies engaged in fierce competition for the global third-place position.
YMTC Revenue Surges 445% Year-Over-Year, Market Share Rises to 13%
According to the Counterpoint report, YMTC emerged as the market's most notable performer. Driven by both strong demand from Chinese domestic manufacturers and supply tightness pushing prices upward, YMTC's revenue grew nearly 445% year-over-year, with market share increasing from 8% in the same period last year to 13% in this quarter.
Counterpoint further noted that YMTC is planning to prepare for an initial public offering (IPO) in China, following a development path similar to that of ChangXin Memory Technologies. If the listing succeeds, YMTC is expected to secure more substantial capital injection while further enhancing market credibility and brand influence.
MS Hwang, Research Director at Counterpoint Research, stated: "If YMTC can obtain additional financial support through this IPO, the company will have the capability to further expand production capacity and business scale. In this scenario, we expect YMTC to surpass Kioxia and Micron, further expand its leading advantage, and become the world's third-largest NAND storage manufacturer."
Samsung, SK Hynix, and Micron Report Record Q1 2026 Financial Results
Publicly available information shows that Samsung Electronics achieved consolidated sales of approximately 133 trillion Korean won (approximately 606.48 billion RMB) in the first quarter of this year, up 68.1% year-over-year and 41.7% compared to 93.84 trillion Korean won in the fourth quarter of 2025. The company's consolidated operating profit for the first quarter was approximately 57.2 trillion Korean won (approximately 260.832 billion RMB), soaring 755% compared to 6.69 trillion Korean won in the first quarter of 2025, marking a record high for year-over-year growth in recent years, and increasing 185% compared to 20.07 trillion Korean won in the fourth quarter of 2025, with profit scale achieving rapid growth for two consecutive quarters.
SK Hynix announced first-quarter 2026 revenue of 52.5763 trillion Korean won, breaking through 50 trillion Korean won for the first time, up 60% quarter-over-quarter and 198% year-over-year. Operating profit reached 37.6 trillion Korean won, also setting a new record, up 96% quarter-over-quarter and 405% year-over-year. The operating profit margin stood at 72%.
Micron Technology's results for the second quarter of fiscal year 2026 ending February 26, 2026, showed that the company achieved quarterly revenue of $23.86 billion USD, up 196% from $8.05 billion USD in the same period last year and 75% from $13.64 billion USD in the previous quarter, reaching a historical high. Net profit performance was even stronger, with GAAP net profit of $13.79 billion USD, surging 770.8% year-over-year and 163.1% quarter-over-quarter.
Driven by strong performance and strong optimism about the future, investors have been continuously buying storage stocks. Since the beginning of this year, Samsung Electronics has risen approximately 208%, SK Hynix approximately 270%, and Micron 270%.
Micron CEO Warns Memory Shortage May Extend Beyond 2026
Recently, Micron CEO Sanjay Mehrotra issued a warning in an interview with foreign media, stating that the current global memory shortage may continue beyond 2026, and that the industry's truly significant large-scale new capacity release will not occur until at least 2028.
FAQ
What was the global NAND storage market revenue in the first quarter of 2026?
According to Counterpoint Research's report released on June 3, global NAND storage market revenue reached $46 billion USD in the first quarter of 2026, nearly doubling quarter-over-quarter and growing to 3.5 times the same period last year, driven by sustained AI infrastructure demand.
What is YMTC's market share in the first quarter of 2026?
Counterpoint's report shows that YMTC's market share increased from 8% in the same period last year to 13% in the first quarter of 2026, with revenue growing nearly 445% year-over-year. YMTC is planning an IPO in China to secure additional capital for capacity expansion.
When will the global memory shortage be resolved according to Micron's CEO?
Micron CEO Sanjay Mehrotra stated in a recent interview that the current global memory shortage may continue beyond 2026, and the industry's truly significant large-scale new capacity release will not occur until at least 2028.
