Hana Micron is expected to see its sales to SK Hynix more than double this year as its production capacity ramps up from the operation of its new factory in Vietnam.
The new factory started operations late last year and offers chip packaging and testing services for chipmakers.
SK Hynix accounts for somewhere between 10% to 20% of Hana Micron’s sales but this is expected to jump to between 40% to 50%.
Analyst firm SK Securities expects the chipmaker has contributed 40 billion won to Hana Micron’s quarterly revenue, while annually SK Hynix will account for around 230 billion won in revenue.
This figure is level to Hana Micron’s annual revenue from Samsung expected to be up to 280 billion won this year, the analyst firm said.
Hana Micron offers packaging and testing for chips, including bump solutions and wire bonding. It is also developing advanced packaging solutions including flip-chip, flexible and wafer-level.
It offers packaging, packaging test, module assembly and test in full turn-key fashion to SK Hynix for memory chips.
Meanwhile, Hana Micron also issued convertible bonds worth 48 billion won to fund its factory in Vietnam further.