SK Hynix Q4 profit slumps

South Korea's SK Hynix Inc said fourth-quarter profit tumbled 41 percent to a two-year low on slowing semiconductor sales and warned of uncertain demand heading into the seasonally weak January-March quarter. The firm also said it expects market conditions to remain difficult in 2016 amid weak global economic growth. SK Hynix reported an October-December operating profit of 989 billion won ($825 million), in line with a Thomson Reuters StarMine SmartEstimate of 991 billion won derived from a survey of ten analysts.
It said DRAM chip shipments fell 1 percent in October-December from the previous quarter while the average selling price dropped 10 percent, citing slower demand from mobile devices as well as weaker computer demand. NAND chip shipments rose 4 percent but the average selling price declined 15 percent.