Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Wu Fei brother's left hand clue delivery! CTOnews.com Feb. 1-South Korea's SK Hynix Inc. said Wednesday it turned to a loss in the fourth quarter as the global chip market slowed amid weak demand and oversupply.

The world's second-largest memory chip maker recorded an operating loss of 1.7 trillion won in the three months to December, compared with an operating profit of 4.2 trillion won in the same period last year. Its net loss was 3.52 trillion won, compared with a net profit of 3.31 trillion won in the same period last year. During the three-month period, sales fell 37.8 percent to 7.69 trillion won.

CTOnews.com understands that the loss for the quarter was SK Group's largest since acquiring Hynix in 2012.

SK hynix makes most of its profits from selling memory chips. But macroeconomic woes have led consumers to tighten spending on electronic products that require such semiconductors.

The company said market conditions have deteriorated significantly, with PC and smartphone makers, major buyers of DRAM and NAND flash, starting to run out of inventory and cut spending.

In October, SK Hynix said it would cut investment this year by a little more than half from last year's estimated upper range of 10-20 trillion won, citing a precipitous drop in demand.

Research firm TrendForce said it expects DRAM prices to fall 13- 18 percent and NAND flash 10- 15 percent in the first quarter as "inventory pressures remain high at suppliers due to continued weak demand for consumer electronics."

CTOnews.com understands that SK Hynix reported net profit of 2.43 trillion won for the whole year of 2022, down 74.6% from the same period last year. Operating revenue for the year was 7 trillion won, down 43.5% year-on-year. Annual sales rose 3.8 percent to 44.64 trillion won.

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