SEOUL -- SK Hynix swung to an unexpected operating profit in the fourth quarter as the memory chip industry rebounds from a long slump and demand for semiconductors used in artificial intelligence jumps, providing a welcome dose of optimism for the South Korean company after a tough overall year in 2023.
SK Hynix, the world's second-largest memory chip maker after Samsung Electronics, said Thursday that its operating profit totaled 346 billion won ($260 million) for the three months through December 2023, recovering from a 1.9 trillion won operating loss during the same period a year earlier. The company's revenue rose 47.4% to 11.3 trillion won during the same period.
