Sandisk has completed its separation from Western Digital and is now an independent public company, trading on the Nasdaq Stock Exchange under the ticker symbol SNDK. To mark the occasion, Sandisk management, senior employees, and board members will ring the closing bell at the exchange to signal the close of trading for the day.
Image source: SanDisk
«“We are excited to begin the next chapter in the Sandisk story. It all starts with innovation, and NAND is an incredible enabler. As we operate in strong and growing markets, we have a tremendous opportunity to expand our role as the world’s leading flash memory company. The new Sandisk is poised to shape and transform the digital world we live in, and we remain focused on leveraging our strengths to deliver long-term growth for our company and shareholders,” said Sandisk CEO David Goeckeler.
Sandisk understands how people and businesses consume data, helping it innovate by delivering solutions that help bring big new ideas to life, the company said in a statement. With decades of experience in memory and storage, the new Sandisk is well positioned to meet market needs, including by leveraging the innovations enabled by artificial intelligence.
Recall that Western Digital acquired Sandisk for $19 billion in 2015; the acquisition was completed the following year. However, in 2022, WD decided to restructure, as part of which Sandisk gained autonomy. Each company will be able to focus on its specialization – WD on hard drives, and Sandisk on SSDs – which should improve business efficiency and competitiveness. At the same time, WD still owns a stake in Sandisk. Sandisk will also continue its long-term cooperation with Kioxia, in which they jointly own the flash memory business.
In an investor presentation earlier this year, Sandisk said it had a 25 percent share of the client SSD market, which includes performance, mainstream, and value SSDs, as well as drives for portable devices and the Xbox and PlayStation gaming consoles. The company also makes flash drives for IoT and industrial applications, and a wide range of flash drives for data centers and AI systems.
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