Samsung and SK Hynix saw strong growth in China in 2024 as chip demand rose

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Driven by China’s consumer subsidies and a recovering memory chip market, Samsung Electronics and SK Hynix saw strong sales growth in the Chinese market last year. Samsung’s exports to China reached KRW 64.93 trillion ($47.59 billion) in 2024, a 53.9% increase from the KRW 42.3 trillion worth the previous year, according to the company’s latest report. This figure surpassed the KRW 61.35 trillion ($44.98 billion) worth of exports to the US in 2024. Similarly, SK Hynix’s subsidiary in the Chinese city of Wuxi recorded KRW 5.6 trillion ($4.1 billion) in sales in 2024, a sharp rebound from a KRW 1.5 trillion ($1.1 billion) net loss in 2023. [Icsmart, in Chinese]Related