Monday, December 20, 2010
The CEO of Hynix Semiconductor Inc. has warned that memory chip prices are likely to continue to fall in the first quarter of 2011 and will impact his company's fourth quarter sales and profits, according to a Wall Street Journal report.
"Chip prices remained strong until the first half of this year, but they dropped sharply, especially during the fourth quarter," the report quoted O.C. Kwon, Hynix CEO, as saying. It also quoted him saying: "Due to the sharper-than-expected fall, a considerable decline in both our sales and profit is inevitable in the fourth quarter."
Hynix (Icheon, South Korea) only makes memory chips, both DRAMs used in PCs and non-volatile NAND flash memory.
For the third quarter ending Sept. 30 Hynix made a net profit of 1.06 trillion won (about $920 million) on sales revenue of 3.25 trillion won (about $2.82 billion). Kwon said the strength of the won may weigh on earnings in 2011, the report said.
By: DocMemory
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