SK hynix Reports Financial Results for 2023, 4Q23
SEOUL, South Korea, Jan. 24, 2024 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it recorded an operating profit of 346 billion won in the fourth quarter of last year amid a recovery of the memory chip market, marking the first quarter of profit following four straight quarters of losses.
- (Based on K-IFRS)
SK hynix said that the overall memory market conditions improved in the last quarter of 2023 with demand for AI server and mobile applications increasing and average selling price (ASP) rising. - "We recorded the first quarterly profit in a year following efforts to focus on profitability," it said.
- For the year of 2024, SK hynix will focus on improving profitability and efficiency through sales of value-added products, while minimizing an increase in capital expenditure for a stable operation of the business.
- "We achieved a remarkable turnaround, marking the first operating profit in the fourth quarter following a protracted downturn, thanks to our technological leadership in the AI memory space," said Kim Woohyun, Vice President and Chief Financial Officer (CFO) at SK hynix.