Memory maker SK hynix made a record loss of 2.3 billion euros last quarter – Computer – News

SK hynix recorded an working lack of 2.3 billion euros final quarter. That could be a document for the corporate because the acquisition of hynix by SK Group. The reminiscence producer expects a rebound available in the market within the second half of this yr.

SK hynix ran within the first quarter of 2023 a turnover of 5.088 trillion gained, which quantities to three.45 billion euros. The working loss amounted to EUR 2.30 billion and the online loss amounted to EUR 1.75 billion. That is the biggest quarterly loss the reminiscence producer has recorded since South Korea’s SK Group acquired Hynix in 2012. writes information company Reuters. It’s the second quarter in a row that SK hynix has made a loss; within the final quarter of final yr, the corporate made a lack of 1.29 billion euros. Firstly of final yr, the reminiscence maker recorded a revenue of 1.97 billion euros.

The loss follows a falling demand for reminiscence chips, which has created surpluses and the costs of reminiscence chips are falling additional. SK hynix and market chief Samsung subsequently determined to cut back their reminiscence manufacturing. SK hynix says the corporate doesn’t anticipate larger costs this quarter as a result of present demand. “Nevertheless, as the consequences of the manufacturing cuts develop into seen from the second quarter, we anticipate the availability and demand state of affairs to enhance from the third quarter onwards.” Tweakers wrote not too long ago an article about falling reminiscence costs.

SK hynix expects higher situations within the reminiscence market within the second half of 2023. Extra inventories for client merchandise would have already shrunk final quarter and that may proceed all through the present quarter throughout the reminiscence market. The corporate additionally expects the expansion of the server marketplace for coaching AI fashions like ChatGPT to have a optimistic impression on demand.