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Hynix Q2 profit tumbles on weak demand from PC makers

Hynix Semiconductor Inc, the world's No 2 computer memory chip maker, reported on Thursday its quarterly operating profit dropped 56% from a year ago, hit by weak demand from computer makers.

business Updated: Jul 21, 2011 13:28 IST
Reuters

Hynix Semiconductor Inc, the world's No 2 computer memory chip maker, reported on Thursday its quarterly operating profit dropped 56% from a year ago, hit by weak demand from computer makers.

The South Korean firm, which competes with sector leader Samsung Electronics Co and Japan's Toshiba Corp, on Thursday reported a April-June operating profit of 447 billion won ($424 million), versus analysts' consensus estimate of 431 billion won, according to Thomson Reuters I/B/E/S.

The profit more than halved from a year ago's 1 trillion won but rose 38% from the previous quarter.
Hynix shares fell by 29% over the past three months in a steady wider market , hit by concerns about a slow recovery of depressed memory chip demand.

First Published: Jul 21, 2011 13:27 IST