SK Hynix posts $159M profit as chip prices rise

Apr 24, 2013 by Youkyung Lee

South Korean chipmaker SK Hynix Inc. on Wednesday reported its third consecutive quarterly profit as prices for PC memory chips rose.

Its net profit totaled 178.7 billion won ($159 million) in the January-March quarter compared with a net loss of 271.2 billion won a year earlier.

The results cemented a return to profit for Hynix as PC memory chip prices rebounded in recent months.

The Korean chip giant posted losses for a year through to June 2012 as a supply glut and sluggish PC sales battered chip prices. The industry-wide downturn forced Japan's Inc. to file for bankruptcy last year.

Hynix's quarterly sales rose 2 percent to 2.8 trillion won. Operating profit reached 316.9 billion won, compared with a 263.5 billion won loss a year earlier.

Hynix said it benefited from higher PC chip prices after many other chip suppliers shifted production to mobile chips, limiting supplies of memory devices for PCs.

Even though the first quarter is typically a slow period for consumer electronics makers, Hynix said it sold more chips for PCs and servers thanks in part to the limited supplies by rivals.

SK Hynix, which competes with . and Toshiba Corp., supplies to Apple Inc., . and others.

The chip giant forecast stronger demand for mobile devices in the second quarter and said upcoming launches of new smartphone models will lift sales of .

Explore further: WellPoint 2Q tops Wall Street expectations

not rated yet
add to favorites email to friend print save as pdf

Related Stories

S. Korea's Hynix swings to red in Q4 on poor demand

Feb 02, 2012

South Korea's Hynix Semiconductor, the world's second-largest maker of memory chips, said Thursday it swung into the red in the fourth quarter as chip prices fell on weak demand for personal computers.

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.

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.

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 ...

Hynix turns 2Q net profit amid record sales

Jul 22, 2010

(AP) -- Hynix Semiconductor turned a net profit in the second quarter after a loss the year before as sales rose to a record and prices for its mainstay computer memory chips increased.

Recommended for you

Android grabs 85% of smartphone market: survey

10 hours ago

Smartphones powered by the Android operating system captured 85 percent of the worldwide market in the second quarter, threatening to marginalize rival platforms, a new survey shows.

Chinese man brings gay conversion therapy lawsuit

15 hours ago

(AP)—A gay Chinese man said Thursday he was suing a psychological clinic for carrying out electric shocks intended to turn him straight, as well as the search engine giant Baidu for advertising the center.

Alcatel loss narrows in 2Q but revenue stagnates

16 hours ago

(AP)—Telecommunications equipment company Alcatel-Lucent SA says its net loss narrowed in the second quarter thanks to lower accounting charges, while revenue stagnated and restructuring charges mounted.

User comments : 0