SK Hynix fourth-quarter profit misses forecasts, hit by prolonged chip downturn

SEOUL (Reuters) - South Korea's SK Hynix , a chip supplier to Apple Inc and Huawei, said on Friday its fourth-quarter operating profit slumped 95%, missing analysts' estimates, as chip prices were hit by oversupply and weaker demand. SK Hynix, the world's No. 2 memory chip maker after Samsung Electronics , said its operating profit was 236 billion won (154 million pounds) in the December quarter, below a 433 billion won average forecast drawn from 19 analysts, according to Refinitiv data. That..