In addition, the NAND flash fabs, particularly with the move to 3D NAND cost billions of dollars to build, compared to a few hundred million to build an HDD production plant. Unlike in the HDD industry, which only has three competing companies (Seagate, WDC and Toshiba), the NAND flash industry has six major players (Samsung, Kioxia, WDC, Micron, Intel and SK hynix) and a few smaller manufacturers. WDC HDD and flash memory gross margin from C3Q 2017 through C2Q 2020 Char from Coughlin Associates
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