SK Hynix weighs slashing shelling out by a quarter in 2023 – Bloomberg Information

Staff wander previous the brand of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji

July 14 (Reuters) – South Korean chipmaker SK Hynix Inc is considering slicing its 2023 funds expenditure by about a quarter to 16 trillion received ($12.16 billion), Bloomberg Information reported on Thursday, citing men and women familiar with the make a difference.

The transfer by SK Hynix, the world’s second-premier memory chip maker following Samsung Electronics , is in response to slower-than-predicted electronics demand from customers, in accordance to the report.

SK Hynix reported it has not made a decision whether or not to transform its money expenditure strategy for up coming calendar year.

Chipmakers such as world’s major foundry TSMC (2330.TW) and memory chip maker Micron (MU.O) have flagged that demand for shopper electronics is cooling. browse a lot more

Large inflation, problems about a downturn in significant markets, China’s most up-to-date COVID lockdown, and the war in Ukraine have dampened buyer investing on PCs and smartphones, souring the memory chip industry’s outlook for upcoming 12 months. read much more

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Reporting by Jose Joseph in Bengaluru and Joyce Lee in Seoul Modifying by Rashmi Aich and Lincoln Feast.

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