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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

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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.

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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.

Our Criteria: The Thomson Reuters Belief Rules.