Chips are currently in short supply. This has an extreme effect on the sales of South Korean Apple supplier SK Hynix.
The South Korean Apple supplier SK Hynix expects further dynamic development after the chip boom of the past few months.
“Despite worries about the disruption of global supply chains, the business development of the past quarter illustrates the continued growth dynamics of the memory chip industry,” said Hynix manager Kevin Noh, according to the announcement.
At the moment, many chips are in short supply for goods from consumer electronics to automobiles, which has pushed prices up. The industry is therefore expanding its capacities. In addition, customers are now likely to try to hoard semiconductors. Experts are therefore already anticipating falling demand and falling prices.
However, Hynix is relying on a continued high demand in the course of digitization. The demand in the server market is high, and cloud and data services should grow into the coming year, the management said. The expansion of the 5G mobile network is also providing a tailwind.
The high demand brought Hynix a record turnover of 11.8 trillion South Korean won (8.7 billion euros) in the third quarter. That was 14 percent more than in the already strong second quarter. Operating profit increased by more than half to just under 4.2 trillion won. The bottom line was that the company earned two thirds more, with a good 3.3 trillion won.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
