Asian Tech Press (OCT 26) -- South Korea's SK Hynix Group, the world's second-largest memory chip maker, released its earnings report on Tuesday, preliminarily verifying a 220% year-on-year increase in third-quarter operating profit to 4.1718 trillion won (about $3.58 billion), surpassing 4 trillion won for the first time since the fourth quarter of 2018. Sales rose 45% year-on-year to 11.8053 trillion won, the highest in a single quarter.

Analysis suggests that SK Hynix's strong performance in the third quarter was due to a significant increase in demand for memory chips used in servers and smart terminals and a rise in product unit prices.

1 South Korean Won = 0.00086 USD