Revenue for the first quarter was $1.29 billion, operating profit was $300 million, which represent sequential declines of 4 percent and 29 percent respectively, while net income was $320 million, which is an increase of 70 percent sequentially, the company said.

Hynix said it achieved consolidated revenue of $1.28 billion) and operating profit of $322 million)which are down by 12 percent and 30 percent respectively from the previous quarter's revenue of $1.46 billion and operating profit of  $461 million. The company also recorded net income of $322 million for the first quarter which is a 53 percent increase from the previous quarter's $210 million.

The sequential decrease in the revenue and operating profit was mainly due to a strong price decline in DRAM market that could not be completely offset by increased bit growth and reduced unit cost. In addition, weakness of the U.S. dollar against the won had a negative impact on the overall revenues and profits. However, flash sales increased significantly, the company said

By: DocMemory
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