According to Businesskorea, SK hynix said at its third-quarter financial conference that it will gain a leading position in the NAND market by acquiring the NAND business from Intel, and plans to triple its NAND sales within five years.

According to reports, SK hynix president Lee Seok-hee attended the company’s third-quarter financial conference and stated on the conference call that SK hynix will secure self-sustainable business strength in NAND within the next three years and grow SK hynix's NAND revenue to triple that of before the acquisition in the next five years. In addition, Sk hynix will ensure that the company takes a leading position in the memory market, only only a DRAM leader.

At the same time, SK hynix continued to maintain strong business performance, with operating profit of US$1.1 billion in the third quarter.

SK hynix said its strong performance is attributed to the rising demand for DRAM and NAND chips, especially from Huawei. The rebound in memory chip prices from last year's low is one of the reasons for the soaring profits.