DRAM chipmaker Nanya Technology has reported consolidated revenues of NT$2.9 billion (US$89.7 million) for May 2016, down 23.7% on year and 2.6% sequentially.

Nanya disclosed its bit shipments fell more than 4% sequentially in May. However, the company saw its ASP rise about 1% on month thanks to an improved product mix.

Nanya's revenues for May 2016 were the lowest monthly level since February 2013. The company's cumulative 2016 revenues through May decreased 17.6% from a year earlier to NT$16.27 billion.

Nanya president Pei Ing Lee noted previously that DRAM prices would continue to fall but at a slower pace in the second quarter. In addition, DRAM market conditions in the second half of 2016 would be better than the first half, with the supply/demand balance becoming more improved, Lee said.