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S. Korea's chipmaker SK hynix logs record revenue in Q2

SEOUL
2024-07-25 13:45

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SEOUL, July 25 (Xinhua) -- South Korea's chipmaker SK hynix logged its record-high revenue in the second quarter thanks to strong demand for semiconductors used in artificial intelligence (AI) computing, a regulatory filing showed Thursday.

Revenue surged 124.8 percent from a year earlier to hit a new quarterly high of 16.42 trillion won (11.8 billion U.S. dollars) in the April-June quarter.

Operating profit amounted to 5.47 trillion won (3.9 billion dollars) in the second quarter, turning around from an operating loss of 2.88 trillion won (2.1 billion dollars) in the same quarter of last year.

Net income came to 4.12 trillion won (3 billion dollars) in the second quarter compared to a net loss of 2.99 trillion won (2.2 billion dollars) a year earlier.

The positive earnings were attributed to solid demand for AI memory chips such as high bandwidth memory (HBM) products and embedded solid state drives (eSSDs) and higher prices for DRAM and NAND flash memory chips.

The HBM sale soared more than 80 percent on-quarter and 250 percent on-year in the second quarter after starting the mass production of the HBM3E products in March.

The sale of eSSD products jumped about 50 percent in the second quarter from the previous quarter.
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