SK Hynix to Spend $2.6 Billion Boosting Chip Output for Mobile
- Prices have risen as mobile, computer storage demand climbs
- The company’s shares climbed in morning trade in Seoul
An SK Hynix Inc. 4GB DDR3 memory chip is arranged for a photograph at the company's office in Seoul, South Korea, on Monday, Jan. 27, 2014. SK Hynix, the world's second-largest maker of memory chips, is scheduled to release fourth-quarter results on Jan. 28.
Photographer: SeongJoon Cho/BloombergSK Hynix Inc., the world’s second-largest memory chipmaker, will spend 3.16 trillion won ($2.6 billion) boosting production to meet growing demand for mobile and computer storage.
The supplier to Apple Inc. and Sony Corp. said Thursday it will invest 2.21 trillion won on a new plant in Cheongju, south of Seoul, to meet increasing demand for the NAND flash chips used in smartphones. It will spend another 950 billion won on its plant in Wuxi, China to raise capacity for dynamic random access memory or DRAM chips. Last year, the chipmaker said it will invest a total of 46 trillion won in boosting chip production.