2009 and 2010 witnessed relatively modest capital spending levels for the NAND flash industry. With smartphones led by the iPhone and Android phones driving demand and numerous handset and PC manufacturers intent on taking on the iPad with Android or Windows-based tablets, the demand dynamics appear to be favourable next year. As a result, the last two years of underinvestment will end in 2011 as NAND flash manufacturers ramp wafer capacity to satisfy the storage demands of mobile device applications.
