SanDisk: “We are disappointed with our financial outlook”

Flash storage company SanDisk has announced a Q1 forecast reduction from $1.45 billion to $1.3 billion due to product delays, slow enterprise sales and lower pricing.

Financial results for the rest of the year are expected to be impacted for the same reasons, and other forecasts for the year have been withdrawn.

Sanjay Mehrotra, president and CEO of SanDisk, said: “We are disappointed with our financial outlook. We will work through these headwinds, leveraging our compelling product roadmap and broadening customer base. We believe our growth prospects remain strong and we are encouraged by the progress we are making in our 3D NAND technology.”

SanDisk remains resilient as it moves forward with the release of the second generation of its 3D NAND.

Pilot production of the device will begin in the second half of this year, with commercial release planned for 2016, reports Business Wire.

Dr Siva Sivaram, executive VP of memory technology at SanDisk, commented: ““We are very pleased to announce our second generation 3D NAND, which is a 48 layer architecture developed with our partner Toshiba.

“We utilized our first generation 3D NAND technology as a learning vehicle, enabling us to develop our commercial second generation 3D NAND, which we believe will deliver compelling storage solutions for our customers.”

SanDisk previously posted impressive results along with Logitech back in January of this year.