Hynix Aims to Become World's Top Chipmaker by 2017

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Wednesday, July 25, 2007

Hynix Aims to Become World's Top Chipmaker by 2017

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South Korea's Hynix Semiconductor Wednesday unveiled a plan to become the world's top chipmaker in 10 years through aggressive investment in next-generation products.

Its president Kim Jong-Kap said separately that several companies have expressed interest in buying a 36 percent stake currently still held by the creditors who bailed it out in the aftermath of the 1997 Asian crisis.

Hynix, now the world's fifth largest memory chipmaker, said in a statement it would boost sales from last year's 7.7 billion dollars to 18 billion dollars by 2010 and to 25 billion dollars by 2012.

The company said it would invest a tenth of its entire revenue in research and development while continuing to build and upgrade production lines.

It aims to produce a next-generation memory chip called Phase-change Random Access Memory (PRAM) by 2009. Industry analysts expect it to become the main memory device, replacing high-density flash memories, within the next decade.

Hynix is South Korea's ninth most valuable company with a market capitalisation of around 17.66 trillion won (19.3 billion dollars).