[News] SK hynix U.S. Revenue More Than Doubles Amid Surging HBM Demand

According to reports from The Chosun Daily and The Korea Herald, SK hynix’s revenue in the U.S. market surged 2.6 times in 2024, fueled by the rising demand for AI memory chips from major U.S. tech companies.

In a corporate filing on Tuesday, SK hynix announced that its U.S. sales subsidiary, SK hynix America Inc., recorded KRW 33.49 trillion ($23 billion) in revenue and KRW 104.9 billion ($71.9 million) in net profit in 2024, as noted by Chosun Daily.

Notably, sales from the U.S. market, including revenue from the American subsidiary, contributed to more than half of SK hynix’s total annual revenue (KRW 66.193 trillion), as highlighted in Chosun Daily’s report.

This growth could be attributed to the rising demand for AI memory solutions from U.S. firms, particularly for HBM, enterprise solid-state drives (SSD), and DDR5, according to Chosun Daily.

As highlighted by The Korea Herald, SK hynix has already sold out its entire supply of HBM chips for 2025 and anticipates its annual sales to more than double in 2025 compared to 2024.

According to TrendForce, SK hynix’s market share in the global DRAM market increased to 36.6% in 4Q24, posing a strong challenge to market leader Samsung Electronics (39.3%).

The company is set to begin shipments of its 16-layer HBM3E chips in the first half of 2025 and aims to commence mass production of sixth-generation HBM4 chips in the second half of the year, as indicated by The Korea Herald.

SK Hynix’s Local Subsidiaries in China See Strong Growth

Alongside its success in the U.S., SK hynix also saw substantial gains from strong demand in the Chinese market, as reported by Korean media outlet IT Chosun and Ilyo Shinmun. The company’s Wuxi-based DRAM and NAND flash sales subsidiary generated KRW 13.01 trillion in revenue in 2024, marking a 64% increase from the previous year. Meanwhile, the Wuxi production subsidiary recorded a 9% year-on-year revenue growth, reaching KRW 5.61 trillion.

Read more

• [News] Korean HBM Giants Cutting Chinese EDA Risks Higher Costs, Supply Chain Disruptions
• Server DRAM and HBM Continue to Drive Growth, 4Q24 DRAM Industry Revenue Increases by 9.9% QoQ, Says TrendForce
• [News] SK hynix Fast-Tracks HBM4 Development, Reportedly Hits 70% Yield in 12-Layer Testing

(Photo credit: SK hynix)