SanDisk Partners With Nexenta To Offer Open Source Software-Defined Storage All-Flash Array
Flash storage provider SanDisk Corporation witnessed robust solid state drive product sales last year that drove the company’s rally in back in 2014. SSD revenues jumped by 60% through the year to $1.9 billion, due to which SanDisk’s stock price rose from about $70 in early 2014 to $105 by the year end. Subsequently, the company has endured a difficult period of low product sales through the first two quarters of 2015, with its net revenues declining by about 20% over the comparable prior year period to under $2.6 billion. In March this year, the company revised its Q1 revenue guidance anticipating weakness in its SSD revenue channel. As a result, its stock plummeted by 18% in a single day. Additionally, the company had a weak Q2 in terms of product sales, with meaningful growth coming from only the enterprise SSD division.