Industry woes lump SK Hynix with net loss in first quarter

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Industry woes lump SK Hynix with net loss in first quarter

SK Hynix Semiconductor said yesterday it swung to a net loss in the first quarter due to an industry-wide slump that hurt sales and prices.

Its net loss amounted to 271.2 billion won ($238.7 million) in the January-March period, a turnaround from a profit of 273.5 billion won a year earlier, the company said in a regulatory filing.

Sales dropped 14.5 percent on-year to 2.38 trillion won in the first quarter, while the company posted an operating loss of 259.9 billion won.

Yonhap

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