On October 26, it was reported by foreign media that, as expected by analysts, SK Hynix issued a disappointing third quarter financial report under the influence of the double decline of price and demand, with both revenue and profit declining on a year-on-year basis, especially net profit, which fell by more than 60% on a year-on-year basis.

    What is more unfavorable is that SK Hynix expects that the oversupply of the memory chip market will continue for some time. For this reason, they have also decided to cut their investment and output next year.

    SK Hynix disclosed in the financial report that they have decided to reduce their investment next year by more than 50% year on year. Their investment this year is expected to be 10-20 trillion won (about 507-1014 billion yuan).

    In terms of production reduction, SK Hynix disclosed that they would gradually reduce the output by focusing on products with lower profits. SK Hynix said that the gradual reduction of output while reducing investment is to maintain the trend of reduced investment and production in a certain period of time and normalize the balance between supply and demand in the market.

    With regard to the current adverse situation, the chief marketing officer of SK Hynix said that they would overcome the current difficulties and become the leading enterprise in the storage semiconductor field by virtue of the potential of turning crisis into opportunity in the past.

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