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SK Hynix expects server chip appetite to offset weaker mobile growth

South Korean chip giant's profits double but just miss market forecasts

Memory chips from South Korea's SK Hynix. The company expects demand for server chips to offset a drop in personal computer shipments and weaker mobile demand growth, especially in China.   © Reuters

SEOUL (Reuters) -- South Korea's SK Hynix said it expects solid demand for server chips to offset a drop in personal computer shipments and weaker mobile demand growth, especially in China, after its first quarter profit more than doubled on a year ago.

The world's second-biggest memory chipmaker on Wednesday posted a 116% jump in Q1 earnings, supported by solid demand from server clients, but slightly missed market expectations due to weaker demand for mobile chips and one-off costs.

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