SK hynix flags losses for third consecutive quarter

The South Korean chipmaker swung to a deficit in the fourth quarter last year for the first time since the third quarter of 2012, as its customers halted new orders to reduce their excessive inventories amid slow consumer demand. — Reuters

SEOUL: SK hynix Inc says it logged losses for three quarters in a row as a demand slump continued amid macroeconomic woes, but called the bottom on the chip market.

The world’s second-largest memory chip maker said in a regulatory filing that its operating losses amounted to 2.88 trillion won (US$2.25bil or RM10.3bil) in the April to June period, compared with a profit of 4.19 trillion won (RM15bil) a year ago.