S.Korea's Hynix notches record sales

South Korea's top mobile carrier SK Telecom said Monday it signed had a deal to buy a controlling stake in Hynix Semiconductor, the world's number two memory chip maker.SK Telecom said it agreed to buy a 21.1 percent stake in Hynix for 3.427 trillion won ($3.05 billion). The stake includes 14.7 percent of the new shares to be issued by Hynix's creditors-turned-shareholders.SK Telecom, which controls about half the country's mobile market, said it would finalise the deal in the first quarter of next year.

South Korea's largest company Samsung Electronics Friday reported a 75 percent rise in full-year net profit to 9.65 trillion won (8.3 billion dollars).The figure compares with 5.526 trillion won in 2008.Samsung also reported a rise in full-year operating profit, to 6.349 trillion won from 4.134 trillion. Revenue in 2009 increased to 89.773 trillion won compared to 72.953 trillion in 2008.For the fourth quarter alone the company said it swung to an operating profit of 3.7 trillion won from an operating loss of 740 billion a year earlier.

South Korea's LG Electronics said Wednesday it swung to a net profit in the first three months of the year thanks to a marked improvement in its flat-screen TV and handset operations.The world's second-largest flat-screen TV maker by shipments after Samsung Electronics reported net profit of 242.5 billion won ($213.5 million) for January-March compared with a net loss of 15.77 billion a year earlier.LG had also reported net losses in the final two quarters of 2011. The company said in a statement it had "turned the corner" with the latest figure.

South Korea's LG Electronics said Wednesday it swung to a net loss in the third quarter due mainly to the poor performance of its flat-panel and smartphone businesses.The firm lost 414 billion won ($366 million) in July-September compared with a net profit of 75.7 billion won a year earlier.Consolidated third-quarter sales fell 4.0 percent year-on-year to 12.9 trillion won. However, its loss was cut to 32 billion won from a 185 billion won loss a year ago, thanks to cost controls and efficiency improvements.

Two South Korean companies said Friday they had submitted preliminary bids to buy a controlling stake in Hynix Semiconductor, the world's second-largest memory chip maker.Top mobile carrier SK Telecom and shipbuilder STX Group sent letters of intent to creditors-turned-shareholders to buy a 15 percent stake before the deadline Friday afternoon.The creditors want to select a preferred bidder in August and complete the sale of their combined stake worth 2.4 trillion won ($2.3 billion) by the end of the year.

South Korea's LG Electronics Wednesday reported a 33 percent drop in its second-quarter net profit compared to a year earlier as its mobile phone business lost money for the first time in four years.The world's third-largest mobile phone maker reported an overall net profit of 856 billion won (721 million dollars) from April-June, compared to 1.28 trillion won a year earlier.Sales fell 0.7 percent year-on-year to 14.41 trillion won, while operating profit plunged 90 percent to 126.2 billion won from a revised 1.24 trillion won a year earlier.

Reuters - World's No. 2 memory chip maker Hynix Semiconductor Inc is seen capable of spending a higher-than-expected 2.3 trillion won ($2 billion) in capital expenditures next year, its top shareholder KEB said on Sunday.