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In particular, memory chip demand from corporate buyers stocking AI data centres as well as gaming personal computers is expected to increase in the second half of the year, the world's second-biggest memory chip maker said. SK Hynix reported a 2.9 trillion won ($2.28 billion) operating loss in the June quarter, down from 4.2 trillion won profit a year earlier on weak memory chip pricing and demand. AI CHIPSSK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. SK Hynix leads the market in high bandwidth memory (HBM) DRAM used in the fast-growing field of generative AI. Samsung, the world's biggest memory chip maker, will report its detailed second-quarter financial results on Thursday.

Persons: SK Hynix, Greg Roh, Nam Dae, 1,274.1300, Joyce Lee, Heekyong Yang, Christopher Cushing, Jamie Freed Organizations: Korea's SK Hynix, Microsoft, SK Hynix's, SK, SK Hynix, Revenue, Samsung Electronics, Hyundai Motor Securities, eBEST Investment, Securities, Samsung, Thomson Locations: SEOUL, KS, HBM

SEOUL, July 12 (Reuters) - LG Electronics (066570.KS) said on Wednesday it is targeting 100 trillion won ($77 billion) in sales by 2030 and plans some 50 trillion won of investment as the South Korean company announced its future strategy. "LG Electronics will tranform its business portfolio... increase profits by growing in business-to-business, and transition to a service business," CEO William Cho told a press conference. In 2022, LG reported about 65 trillion won in consolidated sales excluding affiliate LG Innotek (011070.KS), which makes device components such as camera modules for smartphones. That would be up from more than 80 trillion won ($61.72 billion) as of end-March, according to an eBest Investment & Securities report on Monday. On Friday, LG Electronics estimated its second-quarter operating profit rose 12.7% from a year earlier to 892.7 billion won, its second-largest April-June quarter profit ever.

Persons: William Cho, 1,292.1700, Hyunsu Yim, hyang Choi, Joyce Lee, Ed Davies, Simon Cameron, Moore Organizations: LG Electronics, South Korean, LG, Investment, Securities, Thomson Locations: SEOUL, KS

[1/2] Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. SK Hynix flagged lower chip prices in the current quarter. For the fourth quarter ended December, SK Hynix swung to a worse-than-expected 1.7 trillion won ($1.38 billion) operating loss, from 4.2 trillion won profit a year earlier. Analysts had expected a 1.3 trillion won operating loss, according to Refinitiv SmartEstimate. On its earnings call, SK Hynix said it will focus its resources on advanced chips to prepare for a market upturn in 2024.

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