SK Hynix posts Q1 surge in net profit

Apr 24, 2014

South Korea's SK Hynix Inc said Thursday its first-quarter net profit surged nearly 350 percent from the previous year on a spike in sales of PC memory chips.

The world's second largest memory chip maker said in the January-March period totalled 802.2 billion won ($771.7 million), compared to 178.7 billion won a year earlier.

Revenue gained 34.6 percent on-year to 3.74 trillion won in the first quarter, and operating profit also jumped to 1.05 trillion won from last year's 316.9 billion won.

The company had been hit by a fire in September at its dynamic random access memory (DRAM) production line in Wuxi in China's Jiangsu province.

The Wuxi plant, which accounted for around 15 percent of the global supply of DRAM chips, returned to full production during the first quarter.

Overall DRAM production rose 20 percent from the fourth quarter, it said, adding global demand would rise in the second quarter—a high season for mobile gadgets in the fast-growing Chinese market.

Explore further: SK Hynix Q4 net profit hit by plant fire

add to favorites email to friend print save as pdf

Related Stories

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.

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.

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.

Recommended for you

Netflix unveils new way to share recommendations

1 hour ago

Netflix is giving its Internet video subscribers a more discreet way to recommend movies and TV shows to their Facebook friends after realizing most people don't want to share their viewing habits with large audiences.

Job listing service ZipRecruiter raises $63 million

21 hours ago

ZipRecruiter, a California start-up that tries to simplify tasks for recruiters, has raised $63 million in initial venture capital funding as the 4-year-old service races to keep up with growing demand.

User comments : 0