However, on the back of Covid-19, the market declined by 21 per cent year-over-year.
“Brands were ready with ample stock in January and February to maintain smooth supply and demand process during this period. However, with the onset of Covid-19, the market was predictably disrupted with slowdown in both demand and supply,” Shipra Sinha, Lead Analyst, CyberMedia Research, said in a statement.
It showed that SanDisk has been the undisputed leader for 24 consecutive quarters with its market share increasing year-over-year. SanDisk shipments recorded 27 per cent growth in Q1 2020 over the previous quarter.
HP continued to be on the second spot with four per cent market share followed by Samsung.
Samsung shipments also recorded 44 per cent growth quarter-over-quarter.
“Q2 2020 will see the market face the brunt of the COVID-19 pandemic, with shipments anticipated to decline by 15-20 per cent QoQ,” Sinha said.
“However, from the short and long-term perspective, the demand is anticipated to claw back. This will be driven by feature rich smartphones requiring need for enhanced storage devices.”