South Korea's Hynix swings to net loss in Q3

Oct 27, 2011

South Korea's Hynix Semiconductor, the world's second-largest memory chip maker, said Thursday it swung to a third-quarter net loss as weak demand for personal computers dampened sales.

A weaker won also effectively increased the size of the company's overseas debt, the company said, announcing a net loss of 562.62 billion won ($497 million) in July-September.

This compared with a record net profit of 1.04 trillion won a year earlier and a second-quarter net profit of 473 billion won.

The operating loss was 276.76 billion won compared with a 923.86 billion profit a year earlier. Sales fell 30 percent to 2.291 trillion won from 3.251 trillion.

Major chipmakers are struggling as the weakening global economy hits demand for chips and pushes down prices. The popularity of smartphones and tablets has also decreased demand for personal computers.

But analysts quoted by Dow Jones Newswires said they expected Hynix's earnings to have bottomed out in the third quarter.

They forecast a slow improvement with rising demand for new mobile devices coming onto the market driving . Supply would also tighten as Hynix's cash-strapped smaller rivals cut output.

Explore further: Alibaba surges in Wall Street debut

add to favorites email to friend print save as pdf

Related Stories

SKorea's Hynix swings to profit as chip industry recovers

Jan 21, 2010

South Korea's Hynix Semiconductor said Thursday it swung to a net profit in the fourth quarter, following a loss in the period the year earlier, in a further sign that the global chip industry is recovering from a two-year ...

S.Korea's Hynix notches record sales

Apr 22, 2010

South Korea's Hynix Semiconductor said Thursday it posted record quarterly sales in the three months to March on the back of strong demand, achieving a third straight quarter in the black.

SKorea's Hynix finally swings to profit

Oct 23, 2009

South Korea's Hynix Semiconductor, the world's second largest memory chip maker, Friday announced a profit for the third quarter after seven straight quarters of losses.

Samsung says 2nd-quarter operating profit fell

Jul 07, 2011

(AP) -- Samsung Electronics' profitability slumped in the second quarter as strong performance in fast-growing smartphones could not overcome weakness in liquid crystal displays.

Hynix reports sixth straight quarterly loss

Apr 24, 2009

South Korea's Hynix Semiconductor, the world's second-largest computer memory chipmaker, Friday reported a sixth straight quarterly loss due to weak chip prices sparked by a global recession.

Recommended for you

Alibaba surges in Wall Street debut

13 hours ago

A buying frenzy sent Alibaba shares sharply higher Friday as the Chinese online giant made its historic Wall Street trading debut.

Alibaba makes Wall Street debut

17 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

20 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

23 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0