NVIDIA did not have the best time with the launch of the GeForce RTX graphics card series, which was positioned at the back of the cryptocurrency market and was falling into a black hole. Well, things are getting worse.
The company has just released its fourth quarter and fiscal year 2019 results, with a mammoth loss of 45% over the prior year. NVIDIA's quarter is down 24% overall, with a 45% drop for gaming, but professional viewing up 15%, data center revenue up 12% and revenue up of the automobile up 34%. OEM and IP revenues also fell sharply, down 36% for the quarter.
NVIDIA founder and CEO, Jensen Huang, said the launch of GeForce RTX was historic, as it was the first time in the NVIDIA story that it was only launched with top models of range. Normally we see the two high-end models released with the Ti variant arriving later, but this time they were launched with the RTX 2080 and RTX 2080 Ti.
The GeForce RTX 2060 was not marketed at the time of launch, as there were still too many GTX 1060s on the market, which was a symptom of the cryptocurrency mining explosion, then the implosion. Huang explained, "Inability to launch [the] 2060 was a big inhibitor for us, but we did it at CESSpeaking of stocks in the GTX 10 series, NVIDIA still has excessive supply problems in the channel that will not be settled until the end of March, while NVIDIA also spoke of macroeconomic pressures in China. the country is fighting against the Trump government and its trade.
NVIDIA's gaming segment is a pretty big 43% of its total turnover, so a huge 45% dip from the year is not a trivial thing … it's a very big thing for NVIDIA. We should see things begin to change this year, with the GeForce sales growth of the RTX 2060 and RTX 2070 cards, as well as the GeForce GTX 16 series cards coming soon.