From Dow Jones & Company, Inc.:

South Korean memory chip maker SK Hynix returned to operating profit in the final quarter of 2023, with operating profit at 346.03 billion Korean won compared to an operating loss of 1.912 trillion won a year earlier. Demand for AI chips and high-end products boosted sales and average selling prices, but the company still posted a net loss for the quarter and for the full year. Revenue rose 47% to 11.306 trillion won for the quarter, while full-year revenue fell 27% to 32.766 trillion won. SK Hynix plans to focus on improving profitability through sales of value-added products and minimizing capital expenditure for stable business operations this year. Analysts expect the company to remain on track for recovery in 2024.



Read more: SK Hynix returns to operating profit, thanks to high demand for AI chips