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Hynix Posts Record Loss on Slump in Memory-Chip Prices

  • Chipmaker sees inventory peaking in first half of this year
  • Memory maker halving capex this year while awaiting recovery
Bloomberg business news
SK Hynix Posts Biggest Loss on Record on Memory Chip Slump
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SK Hynix Inc. stuck with plans to halve 2023 capital spending after reporting its biggest quarterly loss on record, hammered by a historic chip industry slump. 

Slammed by a more than 50% slide in memory chip prices from a recent peak, the Apple Inc. supplier said Wednesday it is slashing output, capex and costs as it awaits a recovery in the second half of the year.