Hynix had Q3 revenues of $2.9bn for a net profit of $938m despite a 9% decline in DRAM ASP and a 23% decline in NAND ASP in Q3 compared to Q2.
 
The company expects further ASP declines in Q4 of 20-25%. 
 
Q3 operating margin was 31% compared with Q2’s 32%.
 
Growing supply and softening demand are impacting the memory business after its 12 month boom.
 
 
Hynix is hoping that weakening demand from the PC industry will be off-set by more stable conditions in the mobile phone market.
 
"Overall demand for DRAM is likely to remain subdued, but we expect solid demand from emerging market will partly offset it," Hynix said.
 
Hynix has increased its non-PC memory sales to 60% of its total revenues.