SK hynix posts record earnings, pledges more investment in NAND flash

By Park Sae-jin Posted : April 25, 2017, 17:36 Updated : April 25, 2017, 17:36

[Courtesy of SK Group]


SK hynix posted record corporate earnings in the first quarter of this year, helped by a steady price hike, and vowed to invest more in 3D NAND flash memory chips used in smartphones and other mobile devices.

Hynix has joined the race to acquire the memory unit of Japan's Toshiba as part of efforts to strengthen its NAND flash memory business. The chipmaker said it would push ahead with its planned investment in 3D NAND flash facilities regardless of its bid for Toshiba.

The South Korean company plans to mass produce the industry's first 72-layer NAND flash in the second half of this year following the production of its 36-layer and 48-layer NAND flash last year.

Its first-quarter net profit soared 324 percent to a record high of 1.89 trillion won (1.67 billion US dollars) from 448 billion won a year ago. Operating profit jumped 339 percent on-year to 2.46 trillion won and sales were up 72 percent to 6.28 trillion won.

Hynix attributed its record-high quarterly earnings to favorable market conditions since the second half of 2016 that have sent up the prices of DRAM chips and NAND flash. Demand for high-performance DRAM chips will remain strong throughout this year, it said, expecting brisk sales in NAND flash for premium smartphones.

Lim Chang-won = cwlim34@ajunews.com

 
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