[News] SK Hynix Sets 2024 Record, Surpasses Samsung in Q4 Profit for the First Time

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SK hynix announced today that it recorded best-ever yearly performance with 66.1930 trillion won in revenues, 23.5 trillion won in operating profit with an operating margin of 35%, and 19.8 trillion won in net profit with a net margin of 30%.

SK hynix’s yearly revenues marked all-time high, exceeding the previous record in 2022 by over 21 trillion won and operating profit exceeded the record in 2018 during the semiconductor super boom.

In particular, fourth quarter revenues went up by 12% to 19.8 trillion won, operating profit up 15% to 8.1 trillion won with an operating margin of 41% from the previous quarter and net profit recorded 8 trillion won with a net margin of 41%. According to Reuters, SK hynix’s fourth-quarter operating profit exceeds Samsung’s forecast of 6.5 trillion won for the same period.

SK hynix emphasized that with prolonged strong demand for AI memory, the company achieved all-time high result through world-leading HBM technology and profitability-oriented operation. HBM continued its high growth in fourth quarter marking over 40% of total DRAM revenue and eSSD also showed constant increase in sales.

SK hynix forecasts that the demand of HBM and high density server DRAM, which is essential in high performance computing, will continue to increase as the global big tech companies’ investment in AI servers grow and AI inference technology gains importance. In the consumer market, which inventory adjustment is expected, sales of PC and smartphones equipped with AI will expand and the market situation will pick up in the second half of the year.

Therefore, SK hynix plans to expand HBM3E supply and develop HBM4 in right time to meet customers’ needs. With stable demand, the company aims to push for the transition to advanced process, necessary for the production of competitive DDR5 and LPDDR5. For NAND, as last year, the company plans to meet the market with profitability-oriented operation and flexible sales strategies.

(Photo credit: SK hynix)