Together with Samsung Electronics, the Korean company SK hynix controls more than half of the solid memory market, so projections of its future development are of interest to many investors. SK hynix was forced to admit that next year it would reduce capital expenditure by 25% relative to the original plan.
In the second quarter of the year, SK hynix increased profits by 56%, as the demand for memory remained high, and the weakening of Korea's national currency helped to improve the situation. The company's operating surplus rose to $3.2 billion, exceeding the expectations of analysts, while revenues reached only $10.5 billion, without justifying market forecasts, but increasing by 34% per year and updating the record. In physical terms, the amount of DRAM-type chips delivered per quarter increased by about 10% in consecutive comparison, while the amount of NAND-type chips shipped increased comparablely.
In her comments on the dynamics of memory demand in the second half of the year, SK hynix was very cautious, stating that purchasing power was likely to decline not only in the PC and smartphone segments, but also in the server, albeit to a lesser extent than in the first two. The company ' s investment plans for 2023 would be revised with caution, but SK hynix was now ready to reduce the cost of new businesses by a quarter of the initial level.