Yangtze River Storage Technology's (YMTC) development of 3D NAND flash technology is well on track, and equipment for the production of 3D NAND chips will be installed at its fab in the first quarter of 2018, said company CEO Simon Yang.
YMTC is engaged in the development of 32-layer 3D NAND flash chips, which will be in full production in 2019, according to Yang. The company aims to catch up with the world's leading memory vendors, in terms of technology, by 2020, Yang noted.
NAND flash demand is set to grow robustly driven by cloud computing and smart terminals, Yang said. Meanwhile, the China market has huge potential for growth, Yang indicated.
Both the DRAM or NAND flash market sectors are being dominated by a few key players, Yang identified. YMTC is looking to break the market dominance held by these few companies, said Yang, adding that the company's entry is to bring healthy competition within the industry.
China consumes as high as 55% of the total memory capacity. With the strong domestic demand, and financial support from China's central government, YMTC should be able to enhance its competitiveness against the current major memory players, Yang said.
YMTC is committed to developing its own technology which is critical to its long-term success, Yang noted. Making acquisitions or strategic investments is another approach for the company to grow its business, Yang said.