SAN JOSE, Calif. - Hynix Semiconductor Inc. posted consolidated first quarter revenue of 2.79 trillion won ($2.6 billion), up 2 percent from the previous quarter but down 1 percent a year ago.
Net income for the quarter was 274 billion won ($255 million), up 812 percent from the previous quarter but down 66 percent a year ago.
DRAM bit shipment increased by 15 percent over the preceding quarter while the average selling price declined 13 percent. NAND flash bit shipment also climbed 15 percent and the average selling price was flat over the previous quarter.
Hynix will focus on expanding 40-nm-class processes to 60 percent by the end of the second quarter from 55 percent in the first quarter. It plans to increase 30-nm-class process products, which have been produced from the first quarter of this year, to 40 percent by the end of this year in DRAM business.
For the NAND flash business, Hynix aims to increase its 2X-nm-class process up to mid-50 percent by the end of the second quarter from 40 percent in the previous quarter. The mass production of the next generation 2x-nm class process will be started in the second half of this year.
As reported, a group of creditor banks that turned Hynix debts into shareholding back in 2001 have announced plans to sell off as early as May, their 15 percent stake in the world's second largest DRAM maker, according to reports.
The stake is considered to be worth 3.1 trillion won (about $2.9 billion) but leading shareholder Korea Exchange Bank reportedly said that creditors-turned-shareholders of the Hynix would also consider selling newly-issued Hynix shares to give options to a potential buyer.