Nvidia blames its $500-million revenue problem on China

Nvidia has updated its fourth-quarter revenue projections for 2018, dropping its prediction from $2.7 billion to $2.2 billion.

The graphics card giant blamed this $500-million decrease on weaker demand for gaming GPUs in China.

Nvidia isn’t the first company to blame the weak Chinese economy for its struggles – Apple previously cited the same reason for the underwhelming performance of its newest smartphones.

Nvidia also said that its RTX series cards have been performing worse than expected, and speculated that this was due to customers waiting for lower prices and more examples of the new RTX technology in action.

“Q4 was an extraordinary, unusually turbulent, and disappointing quarter,” said Jensen Huang, Nvidia CEO.

Huang added that despite the disappointing fourth quarter, Nvidia is still confident in its strategies moving forward.

Nvidia will release its financial results for the fourth-quarter of 2018 on 14 February.

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Nvidia blames its $500-million revenue problem on China