South Korea's Hynix swings to net loss in Q3

October 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: Hynix reports sixth straight quarterly loss

Related Stories

Hynix reports sixth straight quarterly loss

April 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.

SKorea's Hynix finally swings to profit

October 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.

SKorea's Hynix swings to profit as chip industry recovers

January 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

April 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.

Samsung says 2nd-quarter operating profit fell

July 7, 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.

Recommended for you

Toyota promises better mileage and ride with Prius hybrid

October 13, 2015

Toyota Motor Corp. released details for its fourth-generation Prius on Tuesday, promising that improvements in the battery, engine, wind resistance and weight mean better mileage for the world's top-selling hybrid car.

Facebook to test mobile app shopping tab

October 12, 2015

Facebook said Monday that it will begin testing a shopping tab for its mobile app as it works to ramp up advertising and online commerce offerings.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.