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Nvidia finally offers generous discounts for its RTX 3000 cards following disappointing financial quarter results

With a 44% revenue decline projected for the gaming sector in the previous quarter, Nvidia is now willing to offer considerable discounts for the remaining RTX 3000 GPU inventory. This move is also meant to clear supply chains in preparation for the RTX 4000 launch later this year.

While the crypto bear market that started earlier this year did help with the steady GPU price decline, this trend had very little to do with GPU producer policy. Even when supply chains appeared to carry a surplus of certain GPU models over the past few months, Nvidia itself was not taking any action to bring back prices close to MSRP. Now, the harsh reality is hitting Team Green like a truck, as the company recently presented a preliminary financial report for the latest quarter, which estimates a 44% revenue decrease for the gaming sector. Current prices at big retailers like Newegg and select AIB partners like EVGA suggest that Nvidia is trying to get rid of the remaining RTX 2000 and RTX 3000 stock with enticing price cuts.
In its latest preliminary financial report, Nvidia notes that total revenue was down from US$8.1 billion to US$6.7 billion, which represents a 19% quarterly loss. Most of the losses came from the gaming sector where the revenue dropped from US$3.64 billion to US$2.04 billion. Team Green is also preparing to launch the RTX 4000 series in late 2022, so CEO Jensen Huang announced price adjustments for the remaining excess supplies of RTX 2000 and RTX 3000 cards.
Tom’s Hardware reports that, over last weekend’s Shuffle event, Newegg sold high-end models like the Asus RTX 3080 Ti TUF for as low as US$833, while the Zotac RTX 3080 Ti Extreme was discounted to US$839. Mid-range models like the Asus RTX 3070 TUF were available for US$515. The EVGA store also had some juicy discounts, with high-end models like the RTX 3090 Ti, RTX 3090 and RTX 3080 Ti seeing up to 42% price cuts. Some RTX 2000 models like the RTX 2060 6 GB were selling for only US$239, while the 12 GB version was available for US$249. Most of these cards sold out in a matter of hours, but you can still find similar prices on Amazon if you missed these deals.
Most of AMD’s RX 6000 cards are already available at or even under MSRP and Nvidia’s RTX 3000 models should also see a drop under MSRP in the months leading to the RTX 4000 launch. Depending on how Nvidia is planning availability for the next gen GPUs, keeping prices close to MSRP for the RTX 4000-series could pose some problems once again.