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SK Hynix Posts 3Q Loss Despite Signs of Recovery

SK Hynix continues to grapple with losses in a persistently challenging memory chip market. The company's third-quarter results showed some positive signs, but the memory chip industry remains under pressure from global economic slowdown and high interest rates
South Korea
s 000660.KO Semicon 75 Tech 350 Blue Chip 150
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SK Hynix, one of the world’s top semiconductor makers, reported a 1.8 trillion won ($1.3 billion) operating loss in the third quarter, marking the fourth consecutive quarter of losses. Despite this, there are positive signs, with the loss narrowing by over 1 trillion won from the previous quarter. Revenue rose by 24% during the same period.

The chip industry has grappled with weak demand for DRAM and NAND memory, but SK Hynix is seeing a rebound with increased demand for high-performance memory chips. In contrast, rival Samsung Electronics expects a 77.9% drop in operating profit for the third quarter due to the prolonged memory chip price slump.

Investor reaction was initially negative, pushing SK Hynix shares down by 4.9%, but they later recovered to a 3.5% decline.

Additionally, SK Hynix expressed its opposition to the merger between Kioxia and Western Digital, two other memory chip manufacturers, due to concerns about its impact on the value of their stake in Kioxia.

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