SK Hynix posts near 30% drop in Q2 net profit

July 24, 2014

South Korea's SK Hynix said Thursday its second-quarter net profit tumbled nearly 30 percent from a year ago on falling memory chip prices.

Net profit for the world's second-largest chipmaker amounted to 674 billion won ($658 million) for April to June, down 29 percent from a year ago.

Operating profit inched down three percent to 1.08 trillion won during the same period, the Icheon-based company said in a statement.

Sales remained nearly unchanged at 3.92 trillion won.

Hynix said the average selling price of its dynamic (DRAM) chips, mostly used for computers, fell five percent in the second quarter.

The average price of its NAND flash chips—used for mobile devices—also dropped 19 percent although production increased 54 percent.

Global demand for is expected to grow later this year in emerging markets including China, it said.

Chipmakers are also expected to keep production minimal to ward off a glut that hurt their businesses earlier this year, a combination that will help boost prices later, the company said.

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

Related Stories

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

February 2, 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 Hynix Q4 net profit hit by plant fire

January 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.

SK Hynix posts Q1 surge in net profit

April 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.

Recommended for you

Smart home heating and cooling

August 28, 2015

Smart temperature-control devices—such as thermostats that learn and adjust to pre-programmed temperatures—are poised to increase comfort and save energy in homes.

Smallest 3-D camera offers brain surgery innovation

August 28, 2015

To operate on the brain, doctors need to see fine details on a small scale. A tiny camera that could produce 3-D images from inside the brain would help surgeons see more intricacies of the tissue they are handling and lead ...

Team creates functional ultrathin solar cells

August 27, 2015

(Phys.org)—A team of researchers with Johannes Kepler University Linz in Austria has developed an ultrathin solar cell for use in lightweight and flexible applications. In their paper published in the journal Nature Materials, ...

Interactive tool lifts veil on the cost of nuclear energy

August 24, 2015

Despite the ever-changing landscape of energy economics, subject to the influence of new technologies and geopolitics, a new tool promises to root discussions about the cost of nuclear energy in hard evidence rather than ...

0 comments

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.