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SanDisk (NASDAQ:SNDK), a global leader in solid state memory (SSD) devices and flash memory chips, announced weak first quarter results with revenues declining 7% y-o-y to $1.21 billion and down by a sharp 24% on a quarterly basis. Lower-than-expected pricing and demand weakness were cited as reasons for the decline even as it missed its lowered outlook. SanDisk competes in the external flash memory storage business with Micron Technology (NASDAQ:MU).