Winbond Electronics (2344)
Winbond Electronics (2344) is a Taiwanese specialty-memory maker spanning niche DRAM, NOR flash, and SLC NAND, with logic chips from subsidiary Nuvoton. In ETFpedia it is the specialty-memory leg of the Asia memory semiconductor concept. In Q1 2026 revenue jumped 91.3% year over year to NT$38.25 billion, and net income beat its entire 2025 profit.
| Ticker | 2344 |
|---|---|
| Exchange | TWSE |
| Sector | Technology · Specialty Memory (DRAM & NOR Flash) |
| Country | Taiwan |
| Related index | Akros Asia Memory Semiconductor Top 10 Index (AAMST10) |
| Wikidata | Q700305 |
| Last updated | 2026-06-10 |
Next event:Next earnings · Q2 2026 resultsestimated · Date not yet announced. Winbond released Q1 2026 results on May 5 and Q3 2025 results on November 5, so the Q2 2026 release is expected in early August 2026; estimated, not company-confirmed. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-05)
Winbond's Q1 2026 consolidated revenue jumped 91.3% year over year and 43.7% quarter over quarter to NT$38.25 billion as memory prices surged, with gross margin reaching 53.4%. Net income of NT$10.11 billion, or NT$2.25 per share, exceeded the company's entire 2025 profit of NT$3.96 billion in a single quarter. Customized Memory Solutions (specialty DRAM) contributed 47% of revenue, flash 32%, and logic ICs 21%.
| Net revenue | NT$38,253M+91.3% YoYYoY · +43.7% QoQ |
|---|---|
| Gross margin | 53.4% |
| Net income | NT$10,114M · Exceeds full-year 2025 net profit of NT$3.96B |
| EPS | NT$2.25 |
Guidance:2026 (management commentary)
| DRAM shipment growth | ≈100% YoY targeted |
|---|---|
| NOR/NAND flash shipment growth | +30% to 40% YoY targeted |
| 2026 capital expenditure | NT$42.1 billion (record) |
Winbond issues no formal P&L guidance; in February 2026 president James Chen said capacity is fully booked for 2026 and 2027 and that the memory upcycle should last for quite a long time.
Recent & upcoming events
- · Record NT$42.1 billion capex plan for 2026.Winbond said it plans record 2026 capital expenditure of NT$42.1 billion, up from NT$5.5 billion in 2025, to lift DRAM shipments by about 100% and NOR and NAND flash shipments by 30 to 40%; 2025 net profit was NT$3.96 billion on revenue of NT$89.41 billion. (source)
- · Q1 2026 results: one quarter out-earns all of 2025.Consolidated revenue of NT$38.25 billion rose 91.3% year over year with a 53.4% gross margin; net income of NT$10.11 billion (EPS NT$2.25) topped the full-year 2025 profit. Customized Memory Solutions reached 47% of revenue, flash 32%, and logic ICs 21%. (source)
- · May revenue nearly triples year over year.May 2026 consolidated revenue was NT$20.0 billion, up 3.93% month over month and 181.97% year over year; cumulative January-to-May revenue of NT$77.5 billion rose 128.58% versus the same 2025 period. (source)
Figures are consolidated (Winbond Electronics including Nuvoton Technology and other subsidiaries) from Winbond's Q1 2026 results release of May 5, 2026 and its monthly revenue disclosures; Winbond reports calendar quarters.
Figures are as of 2026-06-10 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Winbond Electronics do?
Winbond sells the memory nobody else wants to make anymore. Its Customized Memory Solutions business designs niche and specialty DRAM for customers with long product lives, its flash unit is a leading supplier of serial NOR flash and SLC NAND, and its listed subsidiary Nuvoton Technology adds microcontrollers and other logic ICs. In Q1 2026 customized memory was 47% of consolidated revenue, flash 32%, and logic 21%, spread evenly across consumer (30%), automotive and industrial (30%), communications (27%), and computer (13%) applications (Winbond). Like Nanya, it is one of the few memory makers outside the Samsung, SK Hynix, and Micron oligopoly that runs its own fabs and process technology, which is exactly what makes it valuable when the giants walk away from legacy nodes.
How is AI driving Winbond’s business?
Two ways: scarcity and content. The scarcity story is the same one lifting every specialty house in the Asia memory chain. As the big three shift wafers to HBM and server DRAM, the niche DRAM and NOR flash Winbond specializes in became supply-constrained, and prices were expected to rise more than 30% in Q1 2026 alone after a similar jump the quarter before (Taipei Times). The content story is less obvious: AI servers themselves are heavy NOR flash consumers, since every board needs boot and configuration memory. President James Chen put a number on it:
“An AI server rack based on Nvidia Corp’s GB200 chips requires more than 120 NOR flash chips, equal to the consumption of 120 PCs.”
— James Chen, President, Winbond Electronics (Taipei Times)
The result showed up immediately in monthly sales: May 2026 revenue of NT$20.0 billion ran 181.97% above a year earlier, with January-to-May revenue up 128.58% (Winbond).
What did Winbond report most recently?
In Q1 2026 (the quarter ended March 31, 2026, reported May 5), Winbond posted consolidated revenue of NT$38.25 billion, up 91.3% year over year and 43.7% quarter over quarter, with gross margin reaching 53.4% (Winbond, DIGITIMES). Net income came to NT$10.11 billion, or NT$2.25 per share. For scale: that single quarter exceeded the NT$3.96 billion Winbond earned in all of 2025, a year in which revenue was NT$89.41 billion (Taipei Times).
What is Winbond’s guidance?
Winbond does not publish formal profit guidance, but its plans are concrete. In February 2026 it set a record capital expenditure budget of NT$42.1 billion, up from NT$5.5 billion in 2025, aiming to lift DRAM shipments by roughly 100% and NOR and NAND flash shipments by 30 to 40% this year (Taipei Times). President James Chen said capacity is fully booked through 2027:
“Our capacities have been fully booked this year and next year, including DRAM, NOR and NAND. The industry’s upcycle should last for quite a long time.”
— James Chen, President, Winbond Electronics (Taipei Times)
What are the risks for Winbond?
- Price reversal. Q1 2026 revenue and margin were driven mostly by price; if the majors re-add legacy capacity or AI demand cools, the leverage works the other way, as Winbond’s loss-making early 2025 showed.
- Capex timing. The record NT$42.1 billion expansion adds bits into 2027, exactly when an industry-wide supply response could land (Taipei Times).
- Scale and product gap. Winbond has no HBM or leading-edge server DRAM product, so the highest-value layer of the cycle accrues to competitors.
- Conglomerate mix. Consolidated numbers blend memory with Nuvoton’s logic business, which follows a different, slower cycle (Winbond).
Related securities, concepts & terms
- Asia Memory Semiconductorparent
- Nanya Technology (2408)related
- Macronix International (2337)related
- DRAM (Dynamic Random-Access Memory)related
Related indices & ETFs
- Akros Asia Memory Semiconductor Top 10 Index (AAMST10) · Akros Technologies, Inc.Pure-play index of Asia's top 10 memory-semiconductor companies that includes Winbond Electronics; no licensed tracking ETF yet.
These references describe index-tracking relationships as a matter of fact and are not a recommendation to buy any product. Akros, as the index provider, may receive licensing fees from product sponsors. Review the product's prospectus before investing.
Frequently asked questions about Winbond Electronics
What does Winbond Electronics do?
Winbond Electronics is a Taiwanese specialty-memory maker. Its Customized Memory Solutions business designs niche and specialty DRAM, its flash business is a leading supplier of serial NOR flash and SLC NAND, and subsidiary Nuvoton Technology contributes logic ICs. In Q1 2026 the revenue mix was 47% customized memory, 32% flash, and 21% logic, spread across consumer (30%), automotive and industrial (30%), communications (27%), and computer (13%) applications (Winbond).
What was Winbond Electronics' latest quarterly revenue?
In Q1 2026 (the quarter ended March 31, 2026, reported May 5), Winbond's consolidated revenue reached NT$38.25 billion, up 91.3% year over year and 43.7% quarter over quarter, with a 53.4% gross margin (Winbond, DIGITIMES). Net income was NT$10.11 billion, or NT$2.25 per share, more than the NT$3.96 billion the company earned in all of 2025.
What is Winbond's guidance?
Winbond does not publish formal P&L guidance. In February 2026 president James Chen said capacity is fully booked for 2026 and 2027, and the company budgeted record capex of NT$42.1 billion to lift DRAM shipments by about 100% and NOR and NAND flash shipments by 30 to 40% this year (Taipei Times). Momentum has held since: May 2026 revenue rose 181.97% year over year (Winbond).
When does Winbond report its next earnings?
Winbond has not yet announced its Q2 2026 results date. It released Q1 2026 results on May 5, 2026 and Q3 2025 results on November 5, 2025, so the Q2 2026 announcement is expected in early August 2026; that timing is estimated, not company-confirmed (Winbond). Monthly revenue lands in the first week of each month: May 2026 revenue of NT$20.0 billion was announced on June 5 (Winbond).
Why is Winbond part of the Asia memory semiconductor concept?
Because it owns the specialty and legacy memory sockets the AI build-out has made scarce. As Samsung, SK Hynix, and Micron pivot capacity toward HBM and server DRAM, prices for Winbond's niche DRAM and NOR flash surged, driving Q1 2026 revenue up 91.3% year over year (Winbond). AI hardware also consumes its parts directly: president James Chen says an Nvidia GB200-based AI server rack uses more than 120 NOR flash chips, equal to the consumption of 120 PCs (Taipei Times).
Sources & references
- Winbond Announces Q1 2026 Business Results · Winbond Electronics Corporation, 2026-05-05
- Winbond Announces Monthly Revenue for May · Winbond Electronics Corporation, 2026-06-05
- Winbond planning record capex · Taipei Times, 2026-02-11
- Winbond beats full-year 2025 profit in 1Q26 with memory capacity fully loaded · DIGITIMES, 2026-05-05