SK hynix's Q2 net profit plunges on weaker chip prices

SEOUL, July 26 (Yonhap) -- South Korean chipmaker SK hynix Inc. said Tuesday its second-quarter net profit plunged 74.2 percent on year, hurt by weaker chip prices over falling demand for smartphones and computers.

Net profit came to 286.1 billion won (US$250.4 million) in the April-June period, compared with a profit of 448 billion won for the same period last year, SK hynix said in a regulatory filing.

Operating profit dipped 67.1 percent on year to 452.8 billion won. Sales fell 15 percent to 3.9 trillion won.

kdh@yna.co.kr
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