Hynix Semiconductor's net loss sharply narrows

Jul 24, 2009

Hynix Semiconductor Inc., the world's second-largest memory chip maker, said Friday its net loss narrowed sharply in the second quarter as a global supply glut eased.

Net loss for the three months to June fell steeply to 58 billion won (46.6 million dollars) on a consolidated basis, compared with a 1.178 trillion won deficit in the previous quarter and a 711 billion won loss a year earlier.

"Despite the seasonally weak demand in the second quarter, the bottom line has improved a lot as product prices showed signs of rebounding and cost cuts bore fruit," the company said in a statement.

Operating losses also dropped to 211 billion won from a 515 billion won deficit three months earlier and from a 172 billion won loss a year ago.

Sales totalled 1.676 trillion won in the April-June period, up 28 percent from the first quarter but down 10 percent from a year earlier.

"We plan to pull ahead of rivals by stepping up our technological prowess and cutting costs further in the second half of this year," the company said.

(c) 2009 AFP

Explore further: EU Parliament votes to break up Google

add to favorites email to friend print save as pdf

Related Stories

Hynix reports sixth straight quarterly loss

Apr 24, 2009

South Korea's Hynix Semiconductor, the world's second-largest computer memory chipmaker, Friday reported a sixth straight quarterly loss due to weak chip prices sparked by a global recession.

LG Electronics posts record Q2 earnings

Jul 22, 2009

South Korea's LG Electronics Wednesday reported a record quarterly net profit, boosted by brisk sales of flat panel televisions and mobile phones.

Samsung Electronics reports 72% profit slump

Apr 24, 2009

South Korea's Samsung Electronics, the world's top computer memory chipmaker, has announced its first-quarter net profit fell 72 percent year-on-year as poor demand depressed prices.

Samsung announces earnings estimate

Jul 06, 2009

(AP) -- Samsung Electronics Co., the world's biggest manufacturer of memory chips, announced quarterly earnings estimates for the first time Monday, saying it hopes to reduce market confusion and speculation ...

Recommended for you

EU Parliament votes to break up Google

17 hours ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

22 hours ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

Nov 26, 2014

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

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.