NAND memory chips, used in solid-state drives and smartphones for permanent data storage, make up about one-quarter of Micron's (NASDAQ: MU) revenue. There are five major players in the NAND market, plus some smaller manufacturers. Micron held a 12.3% share in the calendar third quarter, according to TrendForce, putting the company in fourth place.

We already knew that Micron's NAND business was struggling amid bloated industry inventories and light demand. When the company reported its fiscal fourth-quarter results, it disclosed that NAND sales volumes were down by a low-20s percentage from the previous quarter, and that NAND average selling prices were down a mid-to-high single percentage.

A recent report from TrendForce offered more precision: Micron's NAND revenue tumbled 26.2% sequentially in the calendar third quarter. The news gets worse: The fourth quarter isn't going to be any better, even with production cuts across the industry.

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Source Fool.com