UPDATED. 2024-07-19 07:49 (금)
SK Hynix returns to profitability on back of HBM sales
SK Hynix returns to profitability on back of HBM sales
  • Noh Tae Min 기자
  • 승인 2024.04.25 18:21
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Image: SK Hynix
Image: SK Hynix

SK Hynix has beat market estimates on its latest earnings on the back of rising prices of memory chip prices and strong sales of high-bandwidth memory (HBM).

The South Korean chip giant said on Thursday that it recorded 12.42 trillion won in revenue and 2.88 trillion won in operating income in the first quarter. Its operating margin rate stood at 23%.

The revenue figure is SK Hynix’s strongest performance for the first quarter and its operating profit figure is its second-highest since 2018.

Operating profit rose 734% from the previous quarter on the back of its “leadership in AI memory technology such as HBM” and expanded sales of products aimed at AI servers, SK Hynix noted.

In NAND, the company said it saw expanded sales of embedded solid-state drives (SSD) and an increase in average sales prices.

Demand for memory in AI applications is expected to continuously increase throughout the year and demand for conventional DRAMs besides HBM is also expected to recover starting in the second half of the year, SK Hynix said.

As HBM requires higher capacity on SK Hynix’s part, the supply of conventional DRAMs is expected to contract, which will help inventory levels of customers to drop as well.

SK Hynix on Wednesday also announced that it plans to spend 20 trillion won to build its new fab M15X in South Korea that will manufacture DRAM.

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