Nvidia Admits: RTX 3000 Will be Unavailable for a Few More Months
As part of Nvidia's summary of recent financial results, the issue of unavailability of GeForce RTX 3000 family GPUs in stores was raised. Unfortunately, according to the company, the supply problems may take several more months.
- Colette Kress, Chief Financial Officer of Nvidia, has confirmed that there is no way to quickly resolve the availability issues of GeForce RTX 3000 family GPUs;
- Kress and CEO Jensen Huang said that the company may not be able to meet the market demand for new GeForce cards for several more months;
- The supply problems in the stores are due to extended production times due to restrictions imposed by the coronavirus pandemic.
The launch of 9th-generation consoles has caused a lot of excitement, although unfortunately this includes disappointment stemming from the unavailability of new devices from Sony and Microsoft (especially PlayStation 5). Unfortunately, even the most ardent supporters of PCs are no strangers to this feeling. All thanks to the debut of Nvidia's new GPUs, which turned out similar to the PS5 and XSX/S. The GeForce RTX 3000 series sold like hot cakes and disappeared from the shops in no time. Gamers could experience this in the case of RTX 3080 and RTX 3090, as well as the newer RTX 3070.
Unfortunately, the recent financial statement of the company confirms that there is no reason to expect quick replenishment of stocks in stores. Colette Kress, Nvidia's CFO, said in the summary of the third quarter of 2021, that production problems in the whole computer industry may lead to a situation when the company manages to ensure sufficient availability of products only in a few months (via Seeking Alpha). Of course, it referred to the limitations associated with the coronavirus pandemic, which have become apparent in the global economy. CEO Jensen Huang spoke in a similar tone, who predicted as early as October that demand for the new GeForce would significantly exceed supply for the rest of 2020:
"Our growth is -- in the near term is more affected by the cycle time of manufacturing and flexibility of supply. [...] But, we would appreciate shorter cycle times; we would appreciate more agile supply chains. But, the world is constrained at the moment. And so, we just have to make the best of it."
Nevertheless, for now Nvidia has no reason to complain. Revenues in the third quarter of the current fiscal year increased by as much as 37%, both annually and from quarter to quarter. Of course, this is due to the debut of GeForce RTX 3000 series, so the problems with their availability are unfavorable for both Nvidia and potential buyers. AMD is in a similar situation. It's not two days since the new Radeon debuted, and there are already reports of stock shortages, despite restrictions on purchases to one card per customer by some stores (see Tech News Today and Tom's Hardware). As you can see, COVID-19 rains on everyone's parade, from manufacturers and publishers to console and PC gamers.
