Affected by the decline in mobile phone makers' demand and oversupply, SanDisk, the flash memory giant, said its earnings declined, and its stock price dropped 7% after the close of the week.
Some of SanDisk's important customers have recently reduced the amount of flash memory purchased.
Although the popularity of mobile phones and tablet PCs has made flash memory products prosperous, oversupply has led to a decline in the profits of manufacturers.
SanDisk expects the company’s revenue in the first quarter of the year to be approximately US$1.2 billion, which is lower than the previous forecast of US$1.3 billion to US$1.35 billion.
Not only is SanDisk warning of earnings decline, Micron Technology and Toshiba are also facing the same problem.
On Tuesday, SanDisk's stock price closed at 50.05 US dollars and fell to 46.43 US dollars in the after-hours trading.
Some of SanDisk's important customers have recently reduced the amount of flash memory purchased.
Although the popularity of mobile phones and tablet PCs has made flash memory products prosperous, oversupply has led to a decline in the profits of manufacturers.
SanDisk expects the company’s revenue in the first quarter of the year to be approximately US$1.2 billion, which is lower than the previous forecast of US$1.3 billion to US$1.35 billion.
Not only is SanDisk warning of earnings decline, Micron Technology and Toshiba are also facing the same problem.
On Tuesday, SanDisk's stock price closed at 50.05 US dollars and fell to 46.43 US dollars in the after-hours trading.
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