SK Hynix Q4 net profit hit by plant fire

Jan 28, 2014

South Korean chipmaker SK Hynix reported Tuesday a drop in net profit for the fourth quarter, due to a fall in production following a fire at its plant in China.

The world's second largest memory chip maker said net profit in the October-December period stood at 789 billion won ($729 million), down 18 percent from the previous quarter.

Operating profit also fell 33 percent to 785 billion won over the same period.

The decline was largely attributed to a fire at the company's dynamic random access memory (DRAM) production line in Wuxi in China's Jiangsu province in September.

Production at the plant is expected to return to normal at the end of January.

Despite the production hit, Hynix for the whole of 2013 stood at a record 2.9 trillion, compared with a loss of 159 billion won the previous year.

Revenue for the year soared 39 percent to 14.1 trillion won.

The stronger bottom line was attributed to solid sales of DRAMs and NAND flash solution products, the company said.

Explore further: Struggling BlackBerry announces new round of layoffs

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.

SK Telecom Q4 net profit falls on higher spending

Feb 02, 2012

South Korea's largest mobile carrier SK Telecom said Thursday its fourth-quarter net profit fell 61 percent year-on-year due to higher spending on next-generation network technology and lower fees.

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.

Recommended for you

Uber drivers fined in Hungary

11 hours ago

The Hungarian tax authority fined Uber drivers in its first probe against the ride-sharing service which the economy ministry said Saturday "ignores passenger safety" and must be made to follow regulations.

Domino's taking orders via tweet

May 22, 2015

Domino's on Wednesday launched perhaps the easiest way to satisfy a pizza craving this side of mind reading: order by tweet.

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.