Prices for low-capacity NAND flash devices have started bouncing back recently though the memory contract prices will continue their downward trend in the next couple of quarters, according to industry sources.

NAND flash contract prices, which fell 10-15% sequentially in the third quarter, are expected to slip another 15% in both the fourth quarter and first-quarter 2019 due to the ongoing market oversupply, the sources said.

However, prices for low-capacity applications such as 8/16GB memory cards and flash drives started to bounce back recently, the sources indicated. The sources also noted that prices for 120GB SSDs may soon hit their bottom and then rebound slightly.

Spot prices for 120GB SSDs have fallen below US$20, the sources said. Prices already dropped below US$24 in the third quarter breaking the record low reached in 2016, the sources noted.

Meanwhile, prices for eMMC devices have also shown signs of stability following a downward correction, according to the sources.