S.Korea's Hynix notches record sales

April 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.

The world's second-largest memory said was 822 billion won (742 million dollars) in the first quarter, compared with a 1.18 trillion won loss a year earlier.

Sales were 2.82 trillion won during the January-March period, the highest ever quarterly figure, the company statement said.

Operating profit was 799 billion won, compared with a 515 billion won loss a year ago.

The company attributed the better-than-expected quarterly performance to firmer chip prices and robust demand for personal computers amid tight supply.

Hynix said the prices of DRAM chips, widely used in personal computers, increased three percent quarter-on-quarter in the January-March period, when shipments also rose six percent.

But the prices of NAND flash chips -- mostly used in digital cameras, mp3 players and smartphones -- fell eight percent quarter-on-quarter in the period as demand was flat.

Hynix said, however, it plans to double its production of NAND flash chips by the year end on expectations of rising demand and new product launches.

"Earnings growth will continue through the third quarter of the year on higher demand," Kim Sung-In, an analyst at KiWoom Securities, told Yonhap news agency, expecting quarterly to top one trillion won.

Hynix has swung to profit since the third quarter of last year thanks to rising memory chip prices, after seven consecutive quarterly losses.

Explore further: SKorea's Hynix swings to profit as chip industry recovers

Related Stories

SKorea's Hynix swings to profit as chip industry recovers

January 21, 2010

South Korea's Hynix Semiconductor said Thursday it swung to a net profit in the fourth quarter, following a loss in the period the year earlier, in a further sign that the global chip industry is recovering from a two-year ...

Hynix reports sixth straight quarterly loss

April 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.

SKorea's Hynix finally swings to profit

October 23, 2009

South Korea's Hynix Semiconductor, the world's second largest memory chip maker, Friday announced a profit for the third quarter after seven straight quarters of losses.

Samsung Electronics reports 72% profit slump

April 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.

Recommended for you

Cryptocurrency rivals snap at Bitcoin's heels

January 14, 2018

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.

Top takeaways from Consumers Electronics Show

January 13, 2018

The 2018 Consumer Electronics Show, which concluded Friday in Las Vegas, drew some 4,000 exhibitors from dozens of countries and more than 170,000 attendees, showcased some of the latest from the technology world.

Finnish firm detects new Intel security flaw

January 12, 2018

A new security flaw has been found in Intel hardware which could enable hackers to access corporate laptops remotely, Finnish cybersecurity specialist F-Secure said on Friday.

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.