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SK Hynix logs 2nd straight quarterly profit

February 20. 2013 4:08AM
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(AP) South Korean chipmaker SK Hynix Inc. said Wednesday it has posted a profit for a second straight quarter as the stronger won reduced the amount of debts denominated in foreign currencies.

Its October-December net profit reached 163.7 billion won ($151 million), compared with a 239.9 billion loss a year earlier. In the previous quarter, it logged 2 billion won in profit.

Its operating profit amounted to 55 billion won on revenue of 2.7 trillion won, a 7 percent rise over a year earlier.

Hynix said it turned to operating profit from the previous quarter's loss thanks to strong demand for chips used in mobile devices and servers.

The company also benefited from solid sales of affordable tablet PCs in emerging markets, which helped offset lower demand for PCs.

Growth of smartphone sales in China and new product launches by its clients during the fourth quarter drove an increase in sales and prices of flash memory chips, it said.

SK Hynix, which competes with bigger rival Samsung Electronics Co. and Toshiba Corp., supplies chips to Apple Inc., Dell Inc. and Hewlett-Packard Co.

Associated Press

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