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Thursday, April 26, 2012
 SK Hynix Seeking Bid For Elpida Despite Quarterly Loss
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Message Text: SK hynix Semiconductor Inc, is still possible to bid for Japan's Elpida Memory Inc despite the repor of a quarterly loss.

SK hynix and Micron Technology Corp are two possible suitors for the bankrupt Elpida Memory in a second round of bids due late next week.

"Based on the results of due diligence, we'll decide whether to participate in the next round of bidding," Sk Hynix Executive Vice President Kim Joon-ho told analysts in an earnings conference call. He added that the company needed to review Elpida's books for other benefits SK Hynix could get from a potential deal.

A combination with Elpida would give SK hynix a 38 percent share of the dynamic random access memory (DRAM) market for mobile devices, narrowing the gap with Samsung Electronics.

SK Hynix' s consolidated first quarter revenue was 2.39 trillion won, decreased by about 6% from 2.55 trillion won of the previous quarter. Operating loss was 260 billion won, which was increased from 167 billion won of the previous quarter with an operating margin of negative 11%. Net loss for the quarter was 271 billion won.

During the quarter, the downturn trend of memory semiconductor prices lasted due to slow seasonal demand and intensified competition among suppliers in the market except for PC DRAM. In terms of DRAM, the company achieved the revenue equivalent to the level of the previous quarter by responding to the PC, Server and Consumer markets. The bit shipment growth of DRAM and NAND Flash each was 9%, 2% but the average selling price declined 10% and 16% respectively.

SK Hynix is to progress a technology migration to 30nm class in terms of non-PC DRAMs such as mobile and server products. Therefore, the 30nm class portion will eventually reach to high-60% of total DRAMs by the end of the second quarter. In addition, the company plans to complete the preparation for mass production using 20nm class process technology and it will supply the products from the second half.

In NAND Flash business, the proportion of combining 2Xnm and the next generation of 2Ynm products will be over 90% at the end of the second quarter. Especially, the company expands the mass production of the 2Ynm and the portion will reach to 20% at the end of the second quarter. Also, SK Hynix plans to start mass production at its M12 FAB from the second half of this year.
 
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