THE GADGETS, Tech News | Latest Technology | Mobiles |  THE GADGETS, Tech News | Latest Technology | Mobiles |

THE GADGETS, Tech News | Latest Technology | Mobiles |

THE GADGETS, Tech News | Latest Technology | Mobiles |

  • Home
  • Gadgets
  • Gaming
  • Laptops/Tablets
  • Mobile
  • Camera
  • More
    • Europe
    • Wearables
    • Home Entertainment
    • Social Media
    • Apple
    • Android
THE GADGETS, Tech News | Latest Technology | Mobiles | THE GADGETS, Tech News | Latest Technology | Mobiles |
  • Gadgets
  • Gaming
  • Laptops/Tablets
  • Mobile
  • Camera
  • Europe
  • Wearables
  • Home Entertainment
  • Social Media
  • Apple
  • Android
Home > Android > SK Hynix Posts Lowest Profit in 7 Years, Warns of Growing Uncertainties
Android

SK Hynix Posts Lowest Profit in 7 Years, Warns of Growing Uncertainties

Published: Oct 06, 2022

South Korea\'s SK Hynix, a chip supplier to Apple and Huawei, on Friday warned of growing uncertainties, after posting its lowest quarterly profit in seven years, hit by a protracted industry downturn.

The tech company said it would be cautious about investments despite improvements in demand, joining its bigger rival Samsung Electronics in offering a guarded outlook amid trade tensions between the United States and China and the new coronavirus outbreak in China.

SK Hynix, the world\'s No. 2 memory chip maker after Samsung Electronics, said its operating profit slumped 95 percent to KRW 236 billion in the December quarter, far below a KRW 433 billion average forecast drawn from 19 analysts, according to Refinitiv data.

That is the lowest quarterly operating profit since the fourth quarter of 2012, and well below KRW 4.4 trillion a year earlier.

The company also swung to a net loss of KRW 118 billion from a net profit of KRW 3.4 trillion, reflecting a decline in investment valuations of Japanese peer Kioxia.

\"While SK Hynix sees the recent improvement in demand flows positively, the company will carry out more prudent production and investment strategies, as complexities and uncertainties still remain much higher than in the past,\" it said in a statement.

Memory chip makers have suffered a double-whammy with the US-China trade war hitting demand from clients such as smartphone makers and data centres, exacerbating oversupply after capacity increases during a boom in 2017.

Despite the industry slowdown, chip shares rallied last year, fuelled by hopes that memory chip prices are bottoming out as trade tensions eased and tentative signs sprouted that demand is recovering from data centres and smartphones.

© Thomson Reuters 2020

You Might Also Like

Renting Laptop is a Good Option For Call Center or BPO

Use These Tips To Diagnose Common Laptop Issues

Five Reasons Renting a Laptop Improves Remote Work Efficiency

How to Choose the Best Laptop Rental Companies for Your Company?

Previous Article Compaq to Return to India This Year, but as a Smart TV Brand Compaq to Return to India This Year, but as a Smart TV Brand
Next Article JioTVCamera Accessory for Jio Fiber Set-Top Box Launched in India, Priced at Rs. 2,999 JioTVCamera Accessory for Jio Fiber Set-Top Box Launched in India, Priced at Rs. 2,999

Latest News

Renting Laptop is a Good Option For Call Center or BPO
Laptops/Tablets Nov 21, 2023
Use These Tips To Diagnose Common Laptop Issues
Laptops/Tablets Nov 21, 2023
Five Reasons Renting a Laptop Improves Remote Work Efficiency
Laptops/Tablets Nov 21, 2023
How to Choose the Best Laptop Rental Companies for Your Company?
Laptops/Tablets Nov 21, 2023
Lava Agni 2 Gets Two New Colour Options in India: Price, Specifications
Mobile Oct 23, 2023
iPhone 15 Teardown Reveals Record High Component Costs, iPhone 16 Could See Price Hike
Mobile Oct 23, 2023
MIX Fold 4 Could be the First Xiaomi Foldable to Launch Globally
Mobile Oct 23, 2023
OnePlus 12 Tipped to Feature 50W Wireless Charging Support, Infrared Sensor, and More
Mobile Oct 23, 2023
Murena Fairphone 5 is now available to pre-order in the UK from Murena. 
Mobile Sep 14, 2023
Living with 1980s Tech for a Week
Gadgets Sep 01, 2023
about us

Thegadgets360 is the original home for technology news and reviews. Thegadgets360 is a web magazine with obsessive daily coverage of everything new in gadgets,gaming,technology,entertainment and consumer electronics.

  • Gadgets
  • Gaming
  • Laptops/Tablets
  • Mobile
  • Camera
  • Europe
  • Wearables
  • Home Entertainment
  • Social Media
  • Apple
  • Android
Fumpa Bike Pump
Fumpa Bike Pump
Gadgets Jul 31, 2023
Nitecore Portable Mosquito Repeller
Nitecore Portable Mosquito Repeller
Gadgets Jul 31, 2023

© Copyright 2023 All Rights Reserved.