SK Hynix reports Q2 loss as chip glut continues

SEOUL :South Korea's SK Hynix posted a quarterly operating loss on Wednesday, as the company said the memory chip market is beginning to recover from a deep downturn.

The world's second-biggest memory chipmaker reported a 2.9 trillion won operating loss in the April-June quarter, from 4.2 trillion won profit a year earlier as overall memory chip prices remained low due to weak demand. This compared with expectations for a 2.7 trillion won operating loss, according to 22 analyst views compiled by Refinitiv SmartEstimate, weighted toward analysts that are more consistently accurate.

SK Hynix reported losses every quarter since the fourth quarter of 2022, although April-June loss was narrowed from a record of 3.4 trillion won loss in the March quarter.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South Korea's economic growth ticks up in second quarterSEOUL : South Korea's economic growth ticked up in the second quarter, led by a more favourable net export contribution, official advance estimates showed on Tuesday, slightly exceeding market expectations. Gross domestic product (GDP) grew by a seasonally adjusted 0.6 per cent in April-June on a quarterl
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »