From CNET: Nvidia on Thursday said restructuring charges related to exiting its Icera operations will total $100 million to $125 million this year. The news came as the company revealed it expects lower sales in the current period than Wall Street projected as it suffers from weak PC demand.
Nvidia rose to prominence by creating graphic processing units, or GPUs, for computers, and it continues to benefit from demand for its graphics for PC gaming. But it also has looked for other avenues for growth as overall PC sales slow. It had sought to break into the smartphone and tablet business, but has largely been shut out, and is now looking at gaming devices and cars as its next big opportunity.
Nvidia earlier this week said it would sell or wind down its Icera smartphone wireless chip operations. Nvidia had paid $367 million for the English startup in mid-2011, and in early 2013, it revealed its first mobile processor that included Icera's baseband technology, a chip called Tegra 4i. The company believed supplying both the applications processor that serves as the brain of devices (called Tegra, in Nvidia's case) and the baseband technology that connects phones to wireless networks (Icera) would help it gain a foothold in the fast-growing mobile market.
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