SK hynix sees longer memory upcycle ahead

Apr 23, 2026, 11:23 am

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SK hynix headquarters in Icheon

SK hynix said the current rise in memory prices is likely to last longer than in past cycles, citing structural changes in the market.

Speaking during a conference call following its earnings release on April 23, the company said demand for memory is increasing across the board, including high-bandwidth memory (HBM), server DRAM and enterprise SSDs (eSSD).

“The imbalance between supply and demand is expected to persist, making the current upcycle longer than in the past,” the company said.

It added that securing supply volumes has become more critical than pricing, reflecting ongoing shortages that are being directly reflected in market prices.

Despite the first quarter traditionally being a slow season for the semiconductor industry, SK hynix posted record results. Revenue surged 198% year-on-year to 52.5763 trillion won, while operating profit jumped 405% to 37.6103 trillion won, with an operating margin of 72%.

The company said the current price increase is not temporary but driven by structural shifts in the market, suggesting a different pattern from previous cycles.

Regarding next-generation products, SK hynix said it is preparing shipment schedules for HBM4E in consultation with customers, with plans to provide samples in the second half of this year and begin mass production in 2027.

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