SK hynix pips Samsung in quarterly profit

SK hynix pips Samsung in quarterly profit

SEOUL: Chipmaker SK Hynix Inc on Tuesday was reported as having posted higher quarterly profits for the fourt quarter.

With the updated numbers, SK Hynix managed to better the profits posted by its rival Samsung Electronics Inc.

This has been an unprecedented milestone for SK Hynix amid an environment of demand for memory chips.

According to the Korean news agency, Yonhap, SK hynix posted a record 8.08 trillion won (US$5.62 billion) in operating profit for the October-December period, up 15 percent from a year earlier.

In comparison, Samsung Electronics estimated its fourth-quarter operating profit at 6.5 trillion won, including some 3 trillion won from the semiconductor division. The tech giant has yet to disclose its final earnings results.

For the entire 2024, SK hynix’s annual operating profit totaled a record 23.47 trillion won, while Samsung Electronics’ chip division is forecast to earn around 15 trillion won.