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: Netflix sues Yahoo CIO for alleged kickbacks

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

EU Parliament votes to break up Google

2 hours ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

6 hours ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

21 hours ago

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

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.