SK Hynix reviews this autumn earnings leap on growing chip fees

South Korean chipmaker SK Hynix saw q4 earnings soar nearly 90 percentage, it stated Thursday, fuelled through a pickup in worldwide demand from phone manufacturers coupled with rising chip expenses.

In a assertion, SK Hynix said it published 1.sixty three trillion received ($1.41 billion) in net earnings at some point of the October to December duration, up 87 percent from the equal length a 12 months in advance.

"stronger call for and a upward push in charges created favourable market situations" on account that the second half of last yr, the employer stated.

Its annual internet profit stood at 2.96 trillion received, down 32 percent from 2015.

Analysts say memory chip fees were pushed up by way of growing demand as chinese language phone makers launch devices with high resolution cameras and bigger storage ability in a bid to trap up with Samsung and Apple.

earlier this week, Samsung Electronics additionally mentioned a 50 percent leap in quarterly earnings, led by using its semiconductor commercial enterprise.

SK Hynix said its shipments of DRAM chips—generally used for smartphones—had been up 13 percent in the fourth area from the preceding three months, with sale charges 14 percent higher.

a prime supplier of reminiscence chips for US smartphone massive Apple, SK Hynix forecast favourable marketplace conditions to keep this yr.

The income assertion sent the business enterprise's percentage fee climbing 2.thirteen percentage in early morning trading.