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SK Hynix posts first loss in 10 years from memory chip price drop

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South Korean reminiscence chipmaker SK Hynix recorded its first working loss in ten years through the fourth quarter final 12 months from sluggish demand and the steep drop within the value of reminiscence chips.

The corporate mentioned on Wednesday that it recorded 7.7 trillion received in income and an working lack of 1.7 trillion received through the quarter. Web loss additionally stood at a steep 3.5 trillion received. It’s SK Hynix’s first quarterly working loss for the reason that third quarter of 2012.

After having fun with report demand previous to and through the pandemic, reminiscence chipmakers are feeling the brunt of the worldwide financial downturn and the conflict in Ukraine.

The chip enterprise of Samsung, the world’s largest reminiscence chipmaker, barely broke even through the fourth quarter whereas US reminiscence chip large Micron additionally posted a loss throughout its newest fiscal quarter.

For all the 12 months of 2022, SK Hynix recorded 44.6 trillion received in income and seven trillion received in working revenue. Whereas income elevated by 4% from 2021, working revenue dipped by 44% year-on-year.

SK Hynix mentioned its working revenue decreased because the reminiscence chip trade entered right into a downturn beginning within the second half of 2022. Uncertainties are nonetheless lingering, the corporate mentioned, and it’ll proceed to scale back investments and prices in response.

Like Samsung, SK Hynix expects the market situations across the reminiscence chip trade to enhance within the latter a part of 2023.

Nonetheless, SK Hynix mentioned Intel’s launch this 12 months of a brand new server CPU that adopts DDR5 is predicted to extend demand for high-end AI-based reminiscence chips.

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