SK Hynix postes Q3 operating profit of 4 trillion won and highest quarterly sales

SK Hynix achieved the highest quarterly sales since its foundation and posted an operating profit of 4 trillion won in two and a half years since the fourth quarter of 2018.

Seoul [South Korea], October 27 (ANI/Global Economic): SK Hynix achieved the highest quarterly sales since its foundation and posted an operating profit of 4 trillion won in two and a half years since the fourth quarter of 2018. SK Hynix announced on the 26th that its third-quarter sales amounted to 11.8053 trillion won and operating profit was 4.1718 trillion won. It increased by 45.2% and 220.4% year on year respectively.

Increased demand for memory semiconductors for servers and mobile devices and rising product prices mainly led to increased sales. SK Hynix made an operating profit of 4 trillion won by increasing yield of its main products such as Gen3 10-Nano DRAM and 128-Layer 4D NAND and expanding production to improve cost competitiveness. SK Hynix' NAND division, which had been in the red, also has turned to a surplus.

Roh Jong-won, vice president and CFO of SK Hynix, said, "Despite concerns over global-supply chain disruptions, it means that the memory semiconductor market continues to grow." SK Hynix is planning to focus on securing profitability by flexibly responding to changes of market environment, expecting that demand for memory will steadily increase in the future.

If the acquisition of Intel's NAND division is completed, SK Hynix expects that competitiveness of its NAND division, which has turned into a surplus, will be strengthened. "After the acquisition, SK Hynix will create a mutually complementary product portfolio to maximize both companies' strengths, and will realise economies of scale," said CFO Roh. "At the same time, SK Hynix will expand the R&D base to grow into a global semiconductor leader." (ANI/Global Economic)

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