SK hynix Q3 profits plunge 93% on-year
- 5 years ago
South Korean chipmaker SK hynix's operating profit for the third quarter has dropped 93 percent on-year, amid falling prices of memory chips.
The world's second-largest chipmaker reported on Thursday that its July-September earnings were roughly 4-hundred million U.S. dollars, the smallest quarterly profit in three years.
Sales went up slightly by six percent on-quarter to 5-point-8 billion dollars,... but were down 40 percent compared to the record-high figure a year ago.
The company said demand had started to pick up, but profit still declined as the price of memory chips continued to fall, largely due to oversupply.
Based on the downturn, it said it will more effectively respond to uncertainties from home and abroad and react to consumer needs.
The world's second-largest chipmaker reported on Thursday that its July-September earnings were roughly 4-hundred million U.S. dollars, the smallest quarterly profit in three years.
Sales went up slightly by six percent on-quarter to 5-point-8 billion dollars,... but were down 40 percent compared to the record-high figure a year ago.
The company said demand had started to pick up, but profit still declined as the price of memory chips continued to fall, largely due to oversupply.
Based on the downturn, it said it will more effectively respond to uncertainties from home and abroad and react to consumer needs.