SK hynix, the world’s No.2 memory chipmaker, said Tuesday its first-quarter profit plunged 65.4 percent from a year earlier due to contracting demand.
Net profit stood at 448.03 billion won ($390.3 million) in the January-March period, compared with a profit of 1.3 trillion won the previous year, SK hynix said in a regulatory filing.
(Yonhap)
Operating profit tumbled 64.6 percent to 561.8 billion won and revenue fell 24.1 percent on-year to 3.66 trillion won, the firm said.
Shipments of dynamic random access memory shrank 3 percent from the previous quarter, while those of NAND flash memory chips dropped 11 percent from three months earlier.
Their average selling prices also declined 14 percent and 12 percent, respectively, over the cited period, the company said.
(khnews@heraldcorp.com)