The Wall Street Journal-20080202-Earnings Digest Brief -- Hynix Semiconductor Inc-- Drop in Quarterly Profit Due to Fall in Chip Prices

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Earnings Digest Brief -- Hynix Semiconductor Inc.: Drop in Quarterly Profit Due to Fall in Chip Prices

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South Korea's Hynix Semiconductor Inc. posted its worst quarterly performance in four years due to a sharp fall in chip prices in an oversupplied industry. Reflecting a gloomy outlook for the industry, the world's second-largest memory chip maker by revenue cut its 2008 capital expenditure plan by 25% to 3.6 trillion won, ($3.8 billion) from 2007's 4.8 trillion won. Hynix said it swung to a net loss of 465 billion won in the three months ended Dec. 31, compared with net profit of 1.02 trillion won a year earlier.