Adds company assertion, qualifications

July 14 (Reuters)South Korean chipmaker SK Hynix Inc 000660.KS is contemplating slicing its 2023 capital expenditure by about a quarter to 16 trillion received ($12.16 billion), Bloomberg Information documented on Thursday, citing persons familiar with the matter.

The shift by SK Hynix, the world’s next-premier memory chip maker right after Samsung Electronics 005930.KS, is in reaction to slower-than-predicted electronics desire, in accordance to the report.

SK Hynix claimed it has not made the decision regardless of whether to modify its cash expenditure prepare for future calendar year.

Chipmakers this sort of as world’s greatest foundry TSMC 2330.TW and memory chip maker Micron MU.O have flagged that demand from customers for client electronics is cooling.

Large inflation, fears about a downturn in significant marketplaces, China’s most up-to-date COVID lockdown, and the war in Ukraine have dampened shopper expending on PCs and smartphones, souring the memory chip industry’s outlook for upcoming 12 months.

($1 = 1,316.0400 won)

(Reporting by Jose Joseph in Bengaluru and Joyce Lee in Seoul Editing by Rashmi Aich and Lincoln Feast.)

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