NVIDIA record big losses
"Bad year for the big boys! Massive Q4 losses recorded."
Published: 11th February 2009 | Source: Nvidia |Troubled Waters
NVIDIA have been plagued with several problems over the past year, and this may have taken their toll on the company's revenue, as well as the current financial climate. They have announced a 60% drop of revenue in Q4 of 2008, which equates to $147.7 million net loss. For the whole year they have recorded a total loss of $30 million. Jen-Hsun Huang, president and CEO of NVIDIA had the following to say on the news:
There were problems in early July of 2008, when NVIDIA announced a higher than normal failure rate of certain laptop GPU's, which cost the company a one off payment of $200 million. There were then problems being flagged by HP, with desktop NVIDIA GPU's, which will have further had an effect on NVIDIA's profits. Let's hope NVIDIA get a better year this year.
You can view the statement on the official NVIDIA website. You can discuss this article in our forums.