SK hynix Inc. reported today revenues of 10.98 trillion won, operating profit of 1.66 trillion won (with OP margin of 15%), and net income of 1.1 trillion won (with net income margin 10%) in the third quarter of 2022. Sales and operating profits decreased 20.5%, 60.5% respectively QoQ. SK hynix analyzed that revenues fell QoQ as both sales volume and price decreased due to sluggish demand for DRAM and NAND products amid worsening macroeconomic environment worldwide. In addition, SK hynix explained that despite the company improved cost competitiveness by increasing the sales proportion and yield of the latest 1anm DRAM and 176-layer 4D NAND, operating profit also decreased due to greater price drop than cost reduction.

SK hynix diagnosed that the semiconductor memory industry is facing an unprecedented deterioration in market conditions as uncertainties in the business environment continued. The deterioration occurred as the shipments of PCs and smartphone manufacturers, which are major buyers of memory chips, have decreased.