Memory chipmaker SK Hynix has reported record profits for the fourth quarter of 2014 and the full year.

SK Hynix announced operating profits of KRW1.67 trillion (US$1.54 billion) for fourth-quarter 2014, up 112% from a year earlier, while consolidated sales increased 53% on year to KRW5.15 trillion. Net profits for the quarter also more than doubled to a quarterly record high of KRW1.62 trillion.

"The operating profit rose 28% quarterly as the company improved the profitability in DRAM and NAND flash product groups," SK Hynix indicated.

SK Hynix disclosed that its DRAM shipments grew 18% sequentially in the fourth quarter while the ASP fell by 3%. Shipments were boosted by an expanded proportion of "2Ynm" process technology as well as stable growth in demand for PCs and servers.

For NAND flash, bit shipments climbed 30% from the previous quarter thanks to rising demand for mobile gadgets and an expanded portion of 1Xnm, SK Hynix said. However, the ASP fell 8%.

SK Hynix' consolidated revenues totaled KRW17.13 trillion in 2014, up 21%, while operating profits increased 51% to KRW5.1 trillion. Net profits for the year came to KRW4.2 trillion. These figures all hit record highs for the second consecutive year, said the company, which credited the positive results to a stable market environment, the company's enhanced product profitability, and cost competitiveness through process technology transition.

SK Hynix disclosed that it will enter mass production of DRAM chips built using "2Znm" class process technology in the first half of 2015. Also, the company is gearing up for the industry's transition to DDR4 products used mainly in servers and mobile devices.

For NAND flash, SK Hynix will expand production for triple-level cell (TLC) and SSD products for better profitability in the first half of 2015, and is looking to start mass producing 3D products in the second half, the company said.