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Hynix Posts Profits for Fifth Quarter Running
Hynix Semiconductor posted substantial profits for the ninth straight quarters thanks to high demand for DRAM and NAND flash memory chips. The company said Thursday it earned nearly W500 billion (about US$500 million) in operating profit and recorded improved business results over the last quarter.
Hynix said it earned W1.59 trillion in sales, W495 billion in operating profit and W529 billion in net profit.
Sales jumped 26 percent on-quarter, operating profit 86 percent and net profit 123 percent.
The chipmaker attributed the better-than expected results to a rise in DRAM prices bolstered by high demand, increased sales of flash memory and cost reduction through sustained productivity improvement.