SK Hynix's revenue and net profit both declined in the third quarter, with the latter down more than 60% from a year earlier.

October 26 news, according to foreign media reports, in the decline in demand for consumer electronics, memory chip market is not optimistic, memory chip manufacturers are also facing greater pressure in terms of performance, analysts had expected that memory chip maker SK Hynix, will issue disappointing third-quarter results.

The third-quarter results of SK Hynix were officially released on Wednesday local time, and as analysts had expected, they were indeed not optimistic, with year-on-year decline in revenue and net profit.

SK Hynix reported revenue of 10.98 trillion won in the third quarter, down from 13.81 trillion in the previous quarter, down 20 per cent from the previous quarter, down from 11.8 trillion in the same period last year, and down 7 per cent from a year earlier.

Judging from the news announced in their financial reports, their revenue declined this quarter, which was significantly affected by the decline in prices. The average price of DRAM fell by nearly 20%. The average price of NAND flash memory fell by more than 20%.

SK Hynix's third-quarter profit fell more sharply than revenue, which fell no more than 10 per cent year-on-year.

According to the results, their operating profit in the third quarter was 1.66 trillion won, down 60% from a year earlier, 61% from a month earlier, down 67% from a year earlier, 62% from a month earlier, and their net profit margin was only 10%.