SEOUL :South Korean chipmaker SK Hynix Inc said the industry downturn will worsen in the first half of 2023, as it turned in a record quarterly operating loss on Wednesday.SK Hynix, however, said market conditions would gradually improve later in the year as chipmakers reduce supply in response to a deepening
SEOUL :South Korean chipmaker SK Hynix Inc said the industry downturn will worsen in the first half of 2023, as it turned in a record quarterly operating loss on Wednesday.
"Industry experts do not expect an increase in supply of memory chips as market players are planning to reduce investments and production, which will lead inventories to peak within the first half," the world's No.2 memory chipmaker, after Samsung Electronics, said in a statement. This compares with expectations for a 1.3 trillion won operating loss, according to estimates from 21 analysts compiled by Refinitiv SmartEstimate and weighted toward analysts that are more consistently accurate.The slump in demand for tech devices amid red-hot inflation and rising interest rates drove chipmakers' efforts to offload inventory at modest prices during the fourth quarter, analysts said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US, South Korean defence chiefs vow more drills to counter NorthSEOUL: US Defence Secretary Lloyd Austin met his counterpart in Seoul on Tuesday (Jan 31), pledging to beef up joint drills and security cooperation as South K
Read more »
Chipmaker SK Hynix reports record Q4 loss as demand weakensSEOUL :South Korea's SK Hynix Inc posted a record quarterly operating loss on Wednesday after warning of an 'unprecedented deterioration' in memory chip demand. The world's second-biggest memory chipmaker reported a 1.7 trillion won ($1.38 billion) operating loss in the October-December quarter, from 4.2 tril
Read more »
NATO's chief urges South Korea to step up military support for UkraineSEOUL: NATO Secretary-General Jens Stoltenberg urged South Korea on Monday (Jan 30) to increase military support to Ukraine, citing other countries that have changed their policy of not providing weapons to countries in conflict after Russia's invasion. Stoltenberg is in Seoul, the first stop on a trip tha
Read more »
South Korea considers early easing of COVID-19 visa curbs on travellers from China: ReportSEOUL: South Korea's prime minister suggested on Tuesday (Jan 31) that COVID-19 visa restrictions on travellers from China could be lifted earlier than scheduled if infections ease, as the travel and tourism sectors hope for a rebound in visitors. Prime Minister Han Duck-soo said Seoul could consider lifti
Read more »
K-drama star Song Joong-ki is married, expecting baby with British wife Katy Louise SaundersSEOUL – South Korean actor Song Joong-ki has confirmed that he has wed his British girlfriend Katy Louise Saunders and that she is pregnant. “I am greeting you today because I want to share a promise I made that is more valuable to me than anything else,” Song, 37,...
Read more »
South Korea drops indoor anti-Covid mask mandate, infection fears lingerSEOUL - South Korea on Monday (Jan 30) scrapped a face mask mandate for most indoor public places in a major step to loosen Covid-19 rules, but many residents opted to keep wearing coverings due to lingering concerns over infections. The lifting of the face-covering rules in the majority of indoor locations is South Korea's latest step in easing Covid...
Read more »