Fourth quarter consolidated sales decreased by 18% sequentially from KRW1.84 trillion to KRW1.51 trillion. DRAM price dropped by 43% and NAND flash price dropped by 18% sequentially with flat DRAM bit growth and 37% decline of NAND flash bit growth. Sequential deterioration in sales was mainly due to the sharp erosion in DRAM and NAND flash ASPs amid weakening demand environment and decline in sales volume of NAND flash products.
Operating loss for the fourth quarter has expanded to KRW782 billion from the loss of KRW465 billion in the previous quarter, recording negative 52% of operating margin.
Net loss for the quarter amounted to KRW1.33 trillion with negative 88% of net income margin. The primary factor for the difference between the operating loss and net loss was due to the net foreign currency transaction and translation losses that occurred as a result of the weak Korean won and high level of dollar-denominated outstanding debt.
Operating loss amounted to KRW1.9 trillion compared to KRW491 billion of operating profit at the same time last year.
