SK Hynix Reports Record Quarterly Revenue of KRW 11.8053 Trillion in 3Q (Update)

SK Hynix Headquarters in Icheon, Gyeonggi-do
[Image source=Yonhap News]

[Asia Economy Reporter Kim Heung-soon] SK Hynix announced on the 26th that its consolidated sales for the third quarter of this year were tentatively estimated at 11.8053 trillion KRW, a 45.2% increase compared to the same period last year. This is the highest quarterly sales since the company's founding. Operating profit reached 4.1718 trillion KRW, a 220.4% increase compared to the same period last year, marking the first time in two and a half years since the fourth quarter of 2018 that quarterly operating profit exceeded 4 trillion KRW.

SK Hynix analyzed that the increase in demand for memory semiconductors used in servers and smartphones (mobile), along with rising product prices, were the driving forces behind achieving record sales.

They added that by improving the yield of key products such as the 10-nanometer class 3rd generation (1z) DRAM and 128-layer 4D NAND, while simultaneously expanding production proportions to enhance cost competitiveness, they achieved operating profits in the 4 trillion KRW range. The NAND business, which had been continuously operating at a loss, also turned profitable.

No Jong-won, Vice President (CFO) of SK Hynix, explained, "Despite concerns due to recent global supply chain disruptions, this indicates that the memory semiconductor market continues to grow."

SK Hynix expects steady growth in memory demand in the market going forward and plans to focus on securing profitability by flexibly responding to changes in the market environment. They also anticipate that if the acquisition of Intel's NAND business is completed within the year, the competitiveness of the now profitable NAND business will be further strengthened.