SK Hynix Q4 profit grows four-fold on brisk memory chip shipments

[SEOUL] South Korea's SK Hynix saw its fourth-quarter operating profit grow four-fold year on year, helped by strong demand for memory chips from server clients looking to expand their data storage capacity.

The world's second-biggest memory chipmaker, whose clients include Apple, said on Friday (Jan 28) operating profit rose to 4.2 trillion won (S$4.7 billion) in the October-December quarter, up from 959 billion won a year earlier.

It was its highest quarterly profit since 2018, beating an average analyst forecast of 4 trillion won, compiled by Refinitiv SmartEstimate.

Fourth-quarter revenue climbed 55 per cent on-year to 12.4 trillion won.

SK Hynix completed the first phase of its acquisition of Intel's NAND flash memory chip business last month, with its solid-state drive business to be managed by a new unit called Solidigm. REUTERS