SK Hynix's Q3 loss narrows from previous Qtr on solid demand for advanced chips

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SK Hynix's Q3 loss narrows from previous Qtr on solid demand for advanced chips
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Ecology Action Centre calls for immediate implementation of Coastal Protection Act | SaltWireSEOUL - South Korea's SK Hynix posted a sharply narrower loss from the previous quarter, as strong demand for high-end chips used in artificial intelligence helped ease the impact of a prolonged slowdown in demand for commodity chips used in smartphones and computers.

The world's second-biggest memory chipmaker said on Thursday it swung to a 1.8 trillion won operating loss for the July-September quarter from a profit of 1.7 trillion won a year earlier. Losses were narrowed from 2.9 trillion won in the second quarter, and compared with expectations for a 1.7 trillion won operating loss, according to 20 analysts' views compiled by LSEG SmartEstimate, weighted toward analysts who are more consistently accurate.

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