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: Starbucks: Computer outage disrupts sales in US, Canada

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

How smart are the mobile shoppers who use smartphones?

Apr 24, 2015

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

Apr 24, 2015

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

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.