The world’s second-largest semiconductor maker, South Korean SK Hynix, announced Thursday that its profits had nearly doubled in the fourth quarter to a record high thanks to strong demand.
Between October and December, net profit jumped 98% year over year, to 3.220 billion won (2.5 billion euros).
Revenues jumped 69 percent to 9.030 billion won, while operating income reached 4.470 billion won, up 191 percent.
“Market conditions proved favorable in the fourth quarter due to higher demand for servers and higher prices for mobile phone components,” the group said in a statement.
For the full year 2017, net profit climbed 260% to 10.640 billion won, with operating profit up 319% to 13.720 billion won. At the same time, sales rose 75 percent to 30.1 trillion won.
SK announces that it wants to diversify its offering by injecting new technologies into its server and SSD components.
SK Hynix’s stock price gained 2.49% in morning trading in Seoul, at 74,200 won.