Hynix Q2 Profit Rises

The world's No. 2 memory chip manufacturer, Hynix Semiconductor, announced its robust second-quarter profits figures on Thursday as compared to the previous year figures, triggered by strong chip rates and boosted corporate demand for personal computers and hand-held devices.

Hynix deals in the manufacturing of DRAM and NAND-type flash memory.

It recorded a net profit of 664.8 billion won ($552 million) compared to a 58 billion won loss incurred the previous year.

Also, it posted its sales to have risen by 96% touching 3.279 trillion won compared to 1.68 trillion won recorded the previous year.

However, the chip giant has cautioned that prices would register a slip this quarter, sliding its shares to a two-month low level as the industry faces a significantly low profit growth rate. Hynix shares slid 3.4 pct touching its lowest level witnessed since May.

Hynix has augured that prices of DRAM (dynamic random access memory) will squeeze in the third quarter, as consumer spending power is cited to mark a slip as it gets jittery over surging volatility in the economy.

"Due to the current economic situation, demand for consumer PCs will be impacted somewhat", Park Nae-hak, Hynix's Vice President of marketing, posted. "Our DRAM chip prices would fall slightly in the third quarter and the market's overall drop will be more than that".