April 24, 2019 / 11:37 PM / a month ago

SK Hynix profit falls 69 pct in Q1 as chip prices remain weak

SEOUL, April 25 (Reuters) - South Korea’s SK Hynix Inc posted a 69 percent drop in first-quarter operating profit on Thursday as memory chip prices remained weak.

The world’s second-biggest memory chip maker behind Samsung Electronics said January-March profit was 1.4 trillion won ($1.21 billion). That was in line with a 1.4 trillion won estimate from analysts, according to Refinitiv SmartEstimate.

SmartEstimates give more weight to recent estimates by analysts who are more consistently accurate. ($1 = 1,155.2800 won) (Reporting by Ju-min Park and Heekyong Yang Editing by Muralikumar Anantharaman)

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