[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Hynix posted a deficit of 1.7012 trillion won in the fourth quarter of last year in the wake of a sharp drop in memory semiconductor prices stemming from the global economic recession.
The company said, "We will continue to cut production, which started in the fourth quarter of last year, this year, and reduce investment by more than half compared to last year."
However, the company's performance is expected to continue to decline for the time being as memory semiconductor prices continue to fall.
SK Hynix announced on the 1st that its operating profit in the fourth quarter of last year was -1.7012 trillion won, which is a deficit compared to the same period last year (operating profit of 4.2195 trillion won).
The company's quarterly operating loss is the first time in 10 years since the third quarter of 2012 (-24 billion won). It was 500 billion won (42%) higher than the market forecast of 1.2 trillion won (1.2 trillion won) compiled by FN Guide. Annual sales were 44.6481 trillion won and operating profit was 7.66 trillion won, up 4 percent from 2021, but operating profit fell 44 percent.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
