Nvidia record poor revenue, $120 million net loss
In Q2 of FY 2009 Nvidia not only faced a stronger opposition in the GPU market, but it also had to take a $196 million charge so as to fix and handle the problems brought on by an issue with its G84 and G86-powered mobile chips.
“Our Q2 financial performance was disappointing. The desktop PC market around the world weakened during the quarter. And our miscalculation of competitive price position further pressured our desktop GPU business. We have a great product line-up and, having taken the necessary pricing actions, we are strongly positioned again. Our focus now is to drive cost improvements and to further enhance our competitiveness through the many exciting initiatives we have planned for the rest of the year,” said Jen-Hsun Huang, president and CEO of NVIDIA.