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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61488)	3/6/2002 3:18:40 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hynix Posts Greater-Than-Expected Loss of 5.1 Tln Won (Update8) By Ian King quote.bloomberg.com Seoul, March 6 (Bloomberg) -- Hynix Semiconductor Inc. lost 5 trillion won ($3.8 billion) last year, a bigger-than-expected shortfall that may step up pressure on creditors to sell the world's third-biggest chipmaker to rival Micron Technology Inc. The loss was 900 million won more than the 4.1 trillion won forecast by 19 analysts polled by IBES International Inc. Sales fell by half, to 4 trillion won from 8.9 trillion won, the company said in a statement. Company officials said they expect a first-quarter net profit as chip prices rebound. Yet the unexpectedly large loss may prompt creditors, who provided two multibillion-dollar rescue packages last year, to accept Micron's latest offer, reported to be about $4 billion. ``Hynix needs new money to invest in its technology if it is to survive on its own,'' said Lee Jae Hyun, who manages 100 billion won ($76 million) at KEB Commerz Investment Trust Management. ``I don't think creditors are willing to do that.''