South Korean chipmaker SK Hynix has reported a record quarterly operating loss of 3.4 trillion won ($2.54 billion) for the first quarter of the year.
According to Reuters, this is its largest loss since the SK Group acquired Hynix in 2012.
This is a reversal from the 2.84 trillion won operating profit in the same period last year, and a larger loss from the the 1.89 trillion won operating loss the previous quarter. Overall revenue tumbled 58% year-on-year to 5.09 trillion, according to the company’s earnings release.
Net losses for the first quarter came in at 2.59 trillion won, compared to a 1.99 trillion profit in the first quarter of 2022.
The world’s second-largest memory chipmaker said…