Chipmaker SK Hynix warns of tough first half after profit miss on China slowdown [Reuters]
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Source: Reuters
Chipmaker SK Hynix warns of tough first half after profit miss on China slowdown | Reuters 4 Min Read SEOUL (Reuters) - The world’s second-biggest memory chipmaker, South Korea’s SK Hynix Inc ( 000660.KS ), flagged a tough first half due to U.S.-China trade frictions and China’s slowing economy, as its fourth-quarter profit missed market expectations on Thursday. It was the Samsung Electronics ( 005930.KS ) rival and Apple Inc ( AAPL.O ) supplier’s first profit decline in two years, but its shares rebounded from recent falls due to hopes the global chip market is nearing the bottom, analysts said. “Demand slowdown across the IT market, which began in the fourth quarter last year, is continuing into 2019,” Executive Vice President Jin-Seok Cha told analysts on the earnings call. “As such, this year began with lower demand visibility and higher inventory level across the industry as the macroeconomic uncertainties persist.” SK Hynix said its October-December operating profit was 4
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