South Korean chip maker reports losses on falling demand

South Korean company Hynix Semiconductor has reported a £657m net loss for the fourth quarter of 2008 as a result of declining demand in the economic downturn...

This Article Covers

PC

South Korean company Hynix Semiconductor has reported a £657m net loss for the fourth quarter of 2008 as a result of declining demand in the economic downturn that has hit most other large computer chip manufacturers.

Intel, AMD, Texas Instruments, STMicroelectronics and Samsung have all reported disappointing financial results for the fourth quarter of 2008, with several planning job cuts as part of cost cutting strategies.

Hynix declared an operating loss of £386m, but said the net loss was so much higher because of exchange losses as a result of the weak Korean won and high level of debt in US dollars.

The Korean company also reported that sales for the quarter decreased by 18% with prices for different types of memory dropping between 18% and 43%.

Sales in fiscal year 2008 decreased by 21% from a year ago, the company said.

CW+

Features

Enjoy the benefits of CW+ membership, learn more and join.

Read more on PC hardware

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close