Western Digital Flash Business Spin Off Likely To Have Little Impact

Does It Matter How Much You’re Fined? Or How Bad Your Reputation Is? Just Ask Apple, Meta, Comcast & The Bank Of America.In association with its October investor call, Western Digital said that it plans to spin off its Flash Memory Business as a separate business unit as a pure-play NAND company supported by the joint venture with Kioxia. This decision appears to have avoided the merger between WDC’s NAND flash business and Kioxia that has been rumored for many months.

WDC’s HDD business is second to Seagate with Toshiba as the third manufacturer of HDDs. WDC indicated that it was planning on HAMR HDDs. Seagate is currently qualifying HAMR high-capacity HDDs for the enterprise and data center markets. WDC’s flash business combined with its manufacturing partner Kioxia’s market share was about 31% in 2022. The joint venture with Kioxia will continue with the flash company spun out of WDC.

The 26TB UltraSMR HDD accounted for nearly half of nearline exabyte HDD shipments and WDC said that its 28TB UltraSMR drive qualifications are happening and that it had a roadmap to 40+TB HDDs. Overall revenue in the last quarter was $2.7B with a non-GAAP earnings per share of -$1.76. Flash gross margins were -10% and HDD gross margins were around 22%. HDD exabyte shipments decreased 5% over the prior quarter with HDD ASPs of $112.

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