[News] SK hynix 3Q26 OPM Hits Record 80%; Says DRAM, HBM Effectively Sold Out to 2029, 14 LTA Customers Signed

What happened

SK hynix reported record 3Q26 results: revenue topped KRW 100 trillion for the first time, reaching KRW 104.62 trillion; operating profit jumped 38% quarter over quarter to a fresh high of KRW 83.33 trillion, pushing its operating margin to a record 80%. Per ZDNet citing FnGuide, analysts had forecast average Q3 revenue of KRW 98.2257 trillion and operating profit of KRW 76.964 trillion, so results exceeded market expectations. Per Yonhap Infomax, DRAM average selling prices (ASPs) climbed by a high-20s percentage quarter over quarter in 3Q26, with roughly 10% shipment growth; NAND ASPs rose by a mid-20s percentage, more than offsetting a slight dip in shipment volumes; server DDR5 sales surged more than 40% sequentially (Chosun Biz). The company has secured long-term supply agreements (LTAs) with 14 major customers, including global cloud service providers (CSPs), up from 10 in 2Q26, and is exploring extensions beyond the typical five-year term with some clients. Existing LTAs already cover more than 50% of its planned production capacity for both 2027 and 2028; per Chosun Biz, with additional customer demand under negotiation, DRAM and HBM output is effectively sold out through 2029; per The Economist Korea, SK hynix expects memory supply shortages to persist through 2030. Per iNews24, the company has finalized negotiations with major customers on 2027 HBM volumes and pricing, with contract terms reflecting HBM4's higher value, and expects the profitability gap between HBM and conventional DRAM to narrow significantly; it projects HBM4 to surpass HBM3E in both shipments and revenue in 4Q26, becoming its flagship HBM product. Amid market speculation that NVIDIA may favor 8-Hi HBM4 over the previously planned 12-Hi HBM4E for Rubin Ultra, CFO Kim Woo-hyun reaffirmed that 12-Hi HBM4 deliveries remain on track with customer-agreed schedules. To respond to surging HBM demand, SK hynix will ramp up M15X to maximum capacity by the end of the year to increase HBM4 production.

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Source and time

Source: TrendForce · 10/27/2026 · View original source