TAIPEI (Taiwan News) — Memory manufacturer Silicon Motion announced Thursday (Oct. 31) that it has started shipping its first fifth-gen PCIe consumer solid-state drive (SSD) controller chip and AI server MonTitan SSD controller chip.

Silicon Motion CEO Wallace Kou (苟嘉章) said in a Thursday press release that revenue from embedded memory (eMMC) and universal flash storage (UFS) controller chips grew slightly in Q3. He added revenue from SSD controller chips remained strong, with overall revenue performance meeting expected levels, per CNA.

Kou said that driven by new projects from NAND flash and module manufacturers, revenue from SSD controller chips continues to grow in the OEM market. These new projects are expected to ramp up in 2025.

Silicon Motion’s Q3 earnings were US$212.4 million (NT$6.78 billion), a 1% quarter-on-quarter increase. The gross margin was 46.8%, and the net income after tax was US$31.02 million, with earnings per share of US$0.92.

The company said demand for the holiday shopping season at the end of the year is weaker than in previous years. It is expected that Q4 revenue will range between US$91-202 million, a decrease of 5% to 10% compared to Q3.