Amid the downturn in the storage industry, Western Digital announced further reductions in equipment investment and production.

Western Digital said during its fourth-quarter 2022 earnings call that annual equipment investments will total $2.3 billion in fiscal 2023, according to Korean media outlet Business Korea. The figure represents a 14.8 percent decline from the $2.7 billion disclosed during the third-quarter earnings call in October 2022. It is a 28.12 percent decrease from the $3.2 billion announced in August 2022.

In addition, Western Digital said it will reduce NAND flash wafer production to 30 percent of current levels, the first time Western Digital has announced a production reduction.

It is reported that Western Digital has a 12.6% share of the global NAND flash memory market, ranking fourth after Samsung Electronics, Armor Man and SK Hynix. In addition to Western Digital, major memory manufacturers such as SK Hynix, Micron and Armor Man have also cut production and investment.

source：aijiwei