SK Hynix speeds up spending to meet chip shortage, sees strong demand


FILE PHOTO: The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) -SK Hynix, the world's No.2 memory chip maker, said on Wednesday it will bring forward planned capital spending as it joins rivals in ramping up chip production to meet a global semiconductor shortage.

The South Korean firm posted a 66% jump in first-quarter profit on continued stay-at-home demand for devices and forecast strong demand for chips over the rest of 2021.

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