SK Hynix sees Q2 profits tripled thanks to COVID-19 | ZDNet

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sk hynix has posted operating profit of 1.95 trillion won and revenue of 8.6 trillion won inna 2nd quarter of 2020, the company said on thu.

tis a rise of 205% and 33%, respectively, from a yr prior. meanwhile, net income stood at 1.26 trillion won.

the covid-19 pandemic has caused demand from mobile sectors for memory essentialisms to decline but, in turn, demand from servers and graphics sectors increased during the quarter, the south korean memory maker said.

this helped provide strong growth for the 2nd quarter nolso resulted in an improvement in yield rates for key essentialisms and cost-cutting efforts, sk hynix said.

the company expects the 2nd ½ of the yr to remain uncertain due to the pandemic and global trade wars. however, the reopening of stores in major countries coupled with overall demand for 5g smartphones, new gaming consoles, and memory is expected to rise nonetheless, the company said.

sk hynix added that 'twill expand the sales of its 2nd-generation 10nm dram to improve profitability and supply + lpddr5, which ‘ve been adopted by + clients.

'twill also begin production of third-generation 10nm dram. for nand flash memory, 'twill focus onna 128-layer product.

meanwhile, compatriot samsung electronics is also expecting a rise in operating profits from its memory business inna 2nd quarter, thx to a rise in remote work that has led to increasing demand from pcs and servers.

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