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Samsung and SK Hynix saw strong growth in China in 2024 as chip demand rose
In 2024, Samsung and SK Hynix experienced significant growth in China, driven by consumer subsidies and a recovering memory chip market, with Samsung exports to China reaching KRW 64.93 trillion ($47.59 billion), a 53.9% increase from the previous year, surpassing US exports. SK Hynix's Wuxi subsidiary saw sales rebound to KRW 5.6 trillion ($4.1 billion) from a loss in 2023.
Key points
- Samsung's exports to China rose to KRW 64.93 trillion ($47.59 billion) in 2024, a 53.9% increase from KRW 42.3 trillion in 2023.
- Samsung's Chinese exports surpassed US exports of KRW 61.35 trillion ($44.98 billion) in 2024.
- Semiconductors were the largest contributor to Samsung's exports, including NAND Flash, DRAM, display driver chips, and image sensors.
- SK Hynix’s sales in Wuxi reached KRW 5.6 trillion ($4.1 billion) in 2024, recovering from a KRW 1.5 trillion ($1.1 billion) loss in 2023.
Why it matters
- The growth aligns with global trends in the chip industry, especially as semiconductor technology advances.
- China’s investment in technology and promotion of homegrown semiconductor production impacts foreign companies' sales.
- 2025 IT trends indicate a continuing increase in demand for semiconductors, especially in AI and IoT applications.
Samsung and SK Hynix's strong performance in China highlights a robust recovery in the memory chip market, potentially setting trends for the semiconductor industry amidst rising global demand.