SK Hynix Inc.today announced financial results for its first quarter 2018 ended March 31, 2018. The consolidated first quarter revenue was 8.72 trillion won while the operating profit amounted to 4.37 trillion won and the net income 3.12 trillion won.

Even though favorable market price continued during the first quarter, which has been traditionally slow-season in the memory semiconductor market, the revenue and the operating profit declined by 3% and 2% because of the Company’s declined shipments of DRAM and NAND Flash.

Quarter-over-quarter, DRAM bit shipments decreased by 5% due to weak mobile demand and lessened production days nevertheless of sustained robust server demand. However, the average selling price rose by 9% through evenly increased price for all DRAM product categories.

For NAND Flash, the bit shipments declined by 10% mainly due to the weak sales in the mobile sector. The average selling price was lowered by 1%.

SK Hynix will place its focus on expanding leading edge technologies and diversifying product portfolio to actively respond to the market demands. Therefore, it will consistently expand the portion of 1Xnm and hit its stride in the sales of 1Xnm server and graphics DRAM.

In addition, the Company is to enter the enterprise SSD market with its PCIe products that have been recently validated by IDC clients. Furthermore, SK Hynix plans to stretch its cutting-edge 72-Layer 3D NAND to increase the sales of high density mobile applications and a variety of client SSD solutions.