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SK Hynix Q2 profit doubles amid strong memory chip demand

South Korean chipmaker waiting for China's approval over Intel NAND deal

SK Hynix is benefiting from strong demand for its mainstay memory chips.   © AFP/Jiji

SEOUL -- Operating profit at South Korea's SK Hynix doubled in the second quarter from the previous three-month period on strong demand for memory chips amid the coronavirus pandemic.

The world's second-largest memory chipmaker said Tuesday that its operating profit jumped 103% to 2.7 trillion won ($2.3 billion) in the April-June period from January-March, driven by stronger-than-expected demand for DRAM and NAND chips. Revenue soared 22% to 10.3 trillion won during the same period.

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