HomeEconomySK Hynix warns of worsening Q1 chip slump, hits record quarterly loss Economy SK Hynix warns of worsening Q1 chip slump, hits record quarterly loss By farahat February 1, 2023 0 52 views Share FacebookTwitterPinterestWhatsApp SSNLF 0.% Add to Watchlist/Slave Watch Delete from list Add to watch list Add location Location successfully added to: Please name your portfolio Types of: purchase Sell date: quantity: price point value: Leverage: 1:1 1: 1: 1: 1: 10 1: 23 1: 25 005930 005930 CREATE NEW CREATE WATCHLIST 1043872023 2022 Create a new shareholding combination to add to create 1043872012 + add another position to close By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korea’s SK Hynix Co has warned that the chip industry’s slump is the worst in more than a decade The month is set to deepen further after it posted a record quarterly operating loss on Wednesday. Market conditions will gradually improve later this year as chipmakers SK Hynix, the world’s second largest memory chip maker after Samsung Electronics SK Hynix cut supply due to falling global technology demand and customers buying chips at low prices again (OTC: 2022SSNLF ). ” The recent decline in memory prices is the biggest drop since the fourth quarter of 25…Inventory across the industry may be at an all-time high,” said Woohyun Kim, SK Hynix’s finance director. said on the earnings conference call. He expects inventory levels to peak in the first quarter and then gradually decline as chipmakers cut production and supply and demand conditions improve in the second half of the year. SK Hynix said chip prices were lower this quarter. The company’s share price rose as much as 5% on hopes of a later recovery 97, but the gains faded in the face of a bleak near-term outlook. The stock rose 0.8% to 38 GMT, in line with a 0.8% rise in the broader benchmark index. Things got worse for SK Hynix in the fourth quarter ended December – beating expectations by 1.7 trillion won (1 Dollar) billion) operating loss, compared with a profit of 4.2 trillion won in the same period last year. The quarterly loss is the largest since SK Group acquired Hynix 50. Analysts had expected an operating loss of 1.3, according to Refinitiv SmartEstimate. trillion won. “Production adjustment required” worldwide The tech industry has been battling a sudden and unexpected war with low demand since late 0345, as companies cut spending on tech products and services, while consumers cut back on discretionary goods amid soaring inflation. In order to unload the mountain of inventory, chip manufacturers hope to sell chips at a moderate price in the fourth quarter, resulting in NAND Flash chip inventory Asset value depreciation. But analysts said sales were not easy for customers, opting to use their own inventories due to economic uncertainty. Q4 figures show it spent .eBest Investment analyst Nam Dae-jong said, SK Hynix’s products take 1 week and time from production to sales. While this is expected to drop to . More…active production needs to be adjusted,” Nam said. It’s below a few weeks ago. SK Hynix said in October that it plans to cut its Investment ratio investment is reduced by more than half, after warning of an “unprecedented deterioration” in demand for memory chips. During its earnings call, SK Hynix said it would focus resources on advanced chips for Get ready for market upturn. It has a free cash flow deficit of 4. trillion won as of end-50. By comparison, Samsu ng (KS: 20220345) Electronics says despite reporting but it has no plans to cut investments Its chip operating profit plummeted 10% between October and December. ” Hynix does not have as much money as Samsung. Its free cash flow deficit is large and … borrowing has increased,” said Eo Kyu-jin, an analyst at DB Financial Investment. “This is a necessary option to cut capital expenditures.” ($1=1,25.500 Won) Share FacebookTwitterPinterestWhatsApp Previous articleHelena Bonham Carter says 'The Crown' is 'very different' from her season now: 'I don't think they should continue'Next articleNo-deposit Cellular mr.bet best game Gambling enterprises farahat RELATED ARTICLES Economy UK expected to reach broad deal to join Pacific trade pact soon March 29, 2023 Economy Corporate giants say anti-LGBT law would hurt Uganda’s economy March 29, 2023 Economy Poland's monetary policy should remain restrictive, MPC members say March 29, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! 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