SK Hynix Operating Profit Falls as Memory Chip Prices Slide
- Average selling prices for benchmark chips have almost halved
- Shares drop after net income slumps on foreign exchange loss
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SK Hynix Inc., a supplier of memory chips to Apple Inc., posted a slump in second-quarter profit as semiconductor prices dropped on slack demand for smartphones and personal computers.
Operating income fell 67 percent to 452.9 billion won ($398 million) in the three months ended June, the Icheon, South Korea-based company said. That compares with the 454.3 billion-won average of analyst estimates compiled by Bloomberg. Shares fell.