SK Hynix achieved its highest quarterly performance ever in the third quarter of 2021, driven by increased demand for server and mobile memory and rising product prices.

SK Hynix announced its third-quarter 2021 financial results on the 26th. According to the results, sales increased 45.2% year-over-year to KRW 11.8053 trillion, operating profit increased 220.4% year-over-year to KRW 4.1718 trillion, and net income for the period reached KRW 3.3152 trillion, a 205.7% increase year-over-year.

This performance was mainly due to the increase in demand for memory semiconductors used in servers and smartphones (mobile devices) and the rise in product prices.

In addition, SK Hynix achieved operating profit of KRW 4 trillion by increasing the yield of its main products, such as 10nm-class 3rd generation (1z) DRAM and 128-layer 4D NAND, and simultaneously expanding the production ratio to improve cost competitiveness. Additionally, the NAND business, which had been in the red for a long time, has turned a profit.

SK Hynix CFO Jong-won Noh explained the management performance by saying, “Despite recent concerns about disruptions in the global supply chain, this means that the memory semiconductor market is continuing to grow.”

Looking ahead, SK Hynix anticipates that memory demand will steadily increase and will continue to focus on securing profitability while flexibly responding to changes in the market environment.

In addition, SK Hynix expects that the competitiveness of its NAND business, which has already turned a profit, will be further strengthened once the acquisition of Intel's NAND business is completed within the year.

Vice President Roh added, “Following the acquisition, SK Hynix will build a complementary product portfolio that maximizes the strengths of both companies and achieve economies of scale. At the same time, we will expand our R&D base to evolve into a true global leader in memory semiconductors.”