October 23, 2019 / 11:52 PM / a month ago

SK Hynix Q3 profit tumbles on further decline in prices of smartphone chips

SEOUL, Oct 24 (Reuters) - South Korean chipmaker SK Hynix Inc posted its smallest quarterly profit in three years with a fall of 93% in July-September on the year, as the prices of memory chips for smartphones declined further.

The world’s second-largest memory chip maker after Samsung Electronics Co Ltd said third-quarter operating profit was 473 billion won ($404.68 million), above a 418 billion Refinitiv SmartEstimate.

SmartEstimates give more weight to recent estimates by analysts who are more consistently accurate. ($1=1,168.8300 won) (Reporting by Ju-min Park and Heekyong Yang; Editing by Stephen Coates and Clarence Fernandez)

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