Modern semiconductor Q3 net profit of $490 million compared with Q2 growth of 115%

News October 14th Hyundai semiconductor company (Hynix Semiconductor Inc.) recently released third quarter earnings, due to strong demand for the company's DRAM and OEM flash memory products, breaking the performance of analysts' expectations for the quarter. Modern semiconductor revenue for the quarter was 1 trillion and 492 billion won (about $1 billion 400 million), compared with the previous quarter, an increase of 21%, but compared with the same period last year fell by 3.3%. Net profit of 511 billion 500 million won (about $490 million 200 thousand) in the quarter, compared with the previous quarter, an increase of 115%, but compared with the same period last year fell by 3.5%. The results exceeded Reuters's net profit of 343 billion won (about $327 million 100 thousand) is expected.

Modern semiconductor attributed this result to the rise in DRAM prices caused by seasonal demand and the rapid development of the NAND flash market. In addition, the ownership of the sale of auto parts manufacturer Hyundai Autonet also contributed to the performance of modern semiconductor quarterly. In accordance with the business restructuring plan, the majority of modern semiconductor's ownership of its Hyundai Autonet are sold to a consortium led by MOTOR (HYUNDAI).