April 24, 2024

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[THE INVESTOR] SK hynix said on April 25 its first-quarter net profit shot up fourfold on-year.

Net profit came to 1.89 trillion won (US$1.66 billion), compared to 448 billion won posted a year earlier, the company said in a regulatory filing. Operating profit also advanced 339.2 percent over the cited period to reach 2.46 trillion won and sales came to 6.28 trillion won in the January-March period, advancing 72 percent on-year.

“While the shipment of DRAM chips and NAND flash all decreased, their price leaped on the back of favorable market conditions,” said Kim Jun-ho, COO for management support.

SK hynix said its shipment of DRAM chips edged down 5 percent on-quarter, although the average price shot up 24 percent over the cited period, especially for models for PCs and servers. The average sales price of NAND flash also increased 15 percent over the cited period, although the shipment edged down 3 percent.

For the remainder of 2017, SK hynix predicts that demand for high-performance DRAM and NAND chips will likely rise.

By Alex Lee and newswires (alexlee@heraldcorp.com)