SEOUL (Reuters) – South Korea’s SK Hynix Inc posted a record quarterly operating loss on Wednesday as a global economic slowdown pushed buyers to limit purchases, worsening a chip glut.
The world’s second-biggest memory chipmaker reported a 3.4 trillion won ($2.54 billion) operating loss in the January-March quarter, from a 2.9 trillion won profit a year earlier.
This matches with expectations for a 3.4 trillion won operating loss, according to 29 analysts compiled by Refinitiv SmartEstimate, weighted toward analysts that are more consistently accurate.
($1 = 1,338.6600 won)
(Reporting by Joyce Lee and Heekyong Yang; Editing by Shri Navaratnam)
