diff --git a/drivers/mtd/mtdcore.c b/drivers/mtd/mtdcore.c
index ff95999fbda0..24518e5e1b5e 100644
--- a/drivers/mtd/mtdcore.c
+++ b/drivers/mtd/mtdcore.c
@@ -1019,10 +1019,14 @@ int mtd_device_parse_register(struct mtd_info *mtd, const char * const *types,
 
 	mtd_set_dev_defaults(mtd);
 
+	ret = mtd_otp_nvmem_add(mtd);
+	if (ret)
+		goto out;
+
 	if (IS_ENABLED(CONFIG_MTD_PARTITIONED_MASTER)) {
 		ret = add_mtd_device(mtd);
 		if (ret)
-			return ret;
+			goto out;
 	}
 
 	/* Prefer parsed partitions over driver-provided fallback */
@@ -1057,9 +1061,12 @@ int mtd_device_parse_register(struct mtd_info *mtd, const char * const *types,
 		register_reboot_notifier(&mtd->reboot_notifier);
 	}
 
-	ret = mtd_otp_nvmem_add(mtd);
-
 out:
+	if (ret) {
+		nvmem_unregister(mtd->otp_user_nvmem);
+		nvmem_unregister(mtd->otp_factory_nvmem);
+	}
+
 	if (ret && device_is_registered(&mtd->dev))
 		del_mtd_device(mtd);