SanDisk's Q1 results revealed that the company made only $114 million in profit, compared to $224 million in the same period last year. It's also reduced the outlook for the second quarter, saying that revenue will fall from $1.30 billion to $1.05 billion for the second three months of the year. It's pointing to a "glut" of flash memory in the market; due to consumers tightening their purse strings and too many chips being made.
Engadget, SanDisk profits declining thanks to a 'glut' of flash memory on the market
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