SK Hynix has posted operating profit of 1.29 trillion won and sales of 8.12 trillion won in the third quarter.
It is a rise of 175% and 18.9%, respectively, year-on-year, the South Korean firm said.
Net income also stood a 1.07 trillion won.
Huawei’s inventory buildup prior to US sanctions taking effect and demand from mobile for memory products likely helped the growth.
However, demand for DRAM from servers and NAND flash memories for SSD was weak during the quarter.
Mobile DRAM shipment increased 4% compared to the previous quarter from increased demand consumer sector as well as mobile and graphic applications.
DRAM and NAND flash prices fell 7% and 10%, respectively, from the previous quarter, SK Hynix said.
However, the company expects memory demand from mobile to be strong in the fourth quarter with PC demand also remaining stable.
SK Hynix said it will expand the sales of 10-nanometer Gen 2 (1Y) LPDDR5 to meet this rise in demand from mobile in the next quarter.
It will expand sales of uMCP that combines high performance NAND flash memories.
It will also focus on server DRAM with 64GB or higher capacity and HBM, thereby strengthening its foothold in the premium DRAM market.
SK Hynix will also increase profitability of its NAND flash business by expanding offerings of 128 layers.