Seoul - South Korea's Hynix Semiconductor Inc, the world's second largest maker of computer chips, Thursday posted net losses of 1.67 trillion won (1.3 billion dollars) for the third quarter owing to price slumps and write-offs.

After profits of 168 billion won in the third quarter of 2007, the company reported losses for the fourth consecutive quarter, more than doubling the losses posted for the previous quarter of 711 billion won.

Operative losses rose from 172 billion won to 465 billion won in the third quarter ending September 30, Hynix said, adding that much of the decline was due to losses incurred by the weak won, and write-offs in connection with the shut-down of production lines.

Sales dropped slightly by 1 per cent to 1.84 trillion won compared with the previous quarter, but the outlook remains grim with a recovery in the sector only expected for mid-2009.

According to Hynix, the price for DRAM memory chips dropped by 11 per cent in the third quarter, compared with an increase of 9 per cent in the previous quarter. (dpa)