Hynix Posts Profitable Third Quarter Report

Submitted by Sarika Valecha on Fri, 10/23/2009 - 15:38

Hynix Posts Profitable Third Quarter ReportKorean chip maker Hynix Semiconductor Inc., posted a profitable third-quarter report on Friday. The positive report has come after a long series of seven consecutive quarters of losses. An optimistic outlook for the upcoming fourth-quarter report has also been sounded by the firm.

Hynix is expecting higher prices and increased sales in November and December for its much popular Dynamic Random Access Memory (DRAM) chips. After Samsung Electronics, Hynix is the world's second largest supplier of DRAMs which are widely used in PCs across the globe.

A net profit of KRW 246.3 Billion was posted by the company for three months up-to September 30. The figures came as a good news to all those mourning the firm's net loss of KRW 1.67 Trillion same time last year. Also, DRAM chips' average selling price has surged by 12% as compared to the second-quarter report.

With the profitable figures, Hynix is positive that the losses are now a thing of the past. In 2010, the firm is expecting biggest sales, returns and investments. Analysts believe that the world is now witnessing a revived and increased demand for PCs and servers which will help Hynix to take its profit further in times to come.


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