SK Hynix Q1 profit beats estimates thanks to robust server demand

South Korean chipmaker sees profit fall 40% on year but rebounds from previous quarter

20200423 sk hynix

SK Hynix expects strong demand for servers in the mid- to long term.   © Reuters

KIM JAEWON, Nikkei staff writer

SEOUL -- SK Hynix delivered a resilient performance in the first quarter despite the coronavirus pandemic as robust demand for server memory chips helped offset declining demand for smartphones.

The world's second-largest memory chipmaker said that its operating profit fell 41% to 800 billion won ($650 million) in the January-March period from a year ago, while revenue rose 6% to 7.2 trillion won.

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