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Home > Industry News

Samsung Electronics and SK Hynix lose $16 billion on chips

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Update time : 2023-12-29 10:16:49
        Samsung Electronics and SK Hynix's chip business posted a combined loss of more than 21 trillion won ($16.1 billion), largely attributed to the cyclical downturn in the semiconductor industry in 2023, according to Korean media reports. Shares of the maker of storage chips, the world's No. 1 Samsung Electronics third-quarter revenue, plunged 77.6 percent year-on-year as its chip unit continued to suffer from a global supply glut. Samsung's chip business accumulated an operating loss of 12.7 trillion won in the first three quarters of this year.
        The oversupply of memory chips began to hamper the global semiconductor industry from the end of 2022 as demand for electronic devices, especially smartphones and laptops, did not rebound even after the outbreak due to the ongoing economic uncertainty.
        The world's top memory chip maker SK Hynix has not been able to escape the impact of the industry's slowdown either.SK Hynix's Q3 2023 revenue plunged 17 percent year-on-year, and it posted a cumulative operating loss of KRW 8.1 trillion in the first three quarters of the year. On the bright side, the memory chip industry is showing signs of recovery due to surging demand for advanced memory chips, such as high-bandwidth memory chips for AI applications. Production cuts implemented in the first half of the year helped control inventories and stabilize price declines.
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