SK Hynix saw another jump in customer deposits in the first quarter of 2024, the company’s regulatory filings showed.
The company said it received 56.1 billion won in advanced payment and 2.7459 trillion won in customer liabilities, or customer deposits where an entity receives advanced payment for obligations to provide them with goods or services later.
In terms of customer deposits, it is a jump of 1.16 trillion won, or around $850 million, from the prior quarter, when its customer deposits stood at 1.5851, itself a jump of 1.3 trillion won from the third quarter last year.
This means it won a large order again for high-bandwidth memory (HBM) in a quarter.
SK Hynix said earlier this month that its HBM production capacity for 2024 has already been sold out, while its capacity for 2025 has also been mostly sold out.
The company received advanced payments from key customer Nvidia to expand its HBM3E production capacity in the second half of 2023.
The graphics giant is likely continuing to give payments to SK Hynix to ensure it gets a stable supply of HBM chips.
Meanwhile, Samsung this month said it has started mass production of HBM3E 8H this month, while mass production for HBM3E 12H will also begin within the second quarter. These chips are expected to be used in AMD MI350.
