SEOUL, South Korea - SK Hynix Co., which supplies mobile chips to Apple Inc., sank to a quarterly loss as oversupplies battered mobile chip prices amid weak demand for personal computers.
SK Hynix said Thursday its net loss amounted to 53 billion won ($46 million) in the April-June period on revenue of 2.6 trillion won.
The South Korean chipmaker reported 23 billion won of operating profit, less than 5 per cent of its profit a year earlier.
The chipmaker blamed a steep drop in prices of NAND flash memory.
Global chipmakers had raced to increase output of the memory chips that go into smartphones and tablet computers. The heated competition resulted in a nearly 20 per cent drop in NAND flash memory prices, offsetting a marginal price rise in memory chips for personal computers.