September 24, 2023

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SK Hynix weighs slashing spending by a quarter in 2023 – Bloomberg News


Personnel walk past the brand of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji

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July 14 (Reuters) – South Korean chipmaker SK Hynix Inc is considering chopping its 2023 capital expenditure by about a quarter to 16 trillion received ($12.16 billion), Bloomberg Information claimed on Thursday, citing persons acquainted with the make a difference.

The transfer by SK Hynix, the world’s next-biggest memory chip maker just after Samsung Electronics , is in response to slower-than-anticipated electronics demand, according to the report.

SK Hynix reported it has not made a decision no matter if to improve its capital expenditure system for next yr.

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Chipmakers this sort of as world’s greatest foundry TSMC (2330.TW) and memory chip maker Micron (MU.O) have flagged that need for shopper electronics is cooling. read far more

Substantial inflation, worries about a downturn in significant marketplaces, China’s newest COVID lockdown, and the war in Ukraine have dampened shopper spending on PCs and smartphones, souring the memory chip industry’s outlook for upcoming 12 months. read far more

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Reporting by Jose Joseph in Bengaluru and Joyce Lee in Seoul Enhancing by Rashmi Aich and Lincoln Feast.

Our Expectations: The Thomson Reuters Rely on Rules.


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