SK Hynix warns chip downturn to worsen in H1, posts record quarterly loss

SEOUL: South Korean chipmaker SK Hynix Inc said the industry downturn will worsen in the first half of 2023, as it turned in a record quarterly operating loss on Wednesday.

SK Hynix, however, said market conditions would gradually improve later in the year as chipmakers reduce supply in response to a deepening downturn in global tech demand and clients buy chips again at low prices.