SK Hynix Q3 Earnings bounce 175% Amid High mobile Chip Demand

SK Hynix third-quarter profit jumps 175% on mobile chip demand

On Wednesday, the second-biggest memory chip maker, SK Hynix, reported its quarter three financial report that shows a whopping 175% jump in operating profits. The bounce is due to the overwhelming orders from Huawei Technologies for mobile chips.

SK Hynix has some prominent customers like Apple and Huawei and reported 876 million euros (1.3 Trillion won) operating profit for the July-September quarter as compared to the 476 billion won profit for the same period last year. The revenues jumped 19% as compared to the previous year to reach 8.1 trillion won.

The South Korean chipmaker reported a surge in its NAND flash and DRAM mobile chips and the significant orders were by Huawei, which was storing semiconductors before the US suspension.

Meanwhile, the firm is also scheduled to take over the Intel Corp.’s NAND chips operations in an all-cash deal for $9B, making the firm second-biggest chip maker and having an advantage in NAND flash chips.

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