AMD as a Company
History
Customers should come first, at every stage of a company’s activities. This customer driven approach to doing business was at the core of AMD’s founding in 1969 and remains the central focus of the company’s policy today.
Advanced Micro Devices was founded in 1969 by a group of former executives from Fairchild Semiconductor. The company began by exclusively designing and producing microprocessors and slowly building on their core competencies to foray into other computer hardware. In 1975, AMD introduced a reverse-engineered clone of the Intel 8080 microprocessor. Even then Intel chip architecture was considered the industry standard. AMD’s laggard position in the industry can be traced all the way back to the beginning.
Throughout the seventies AMD diversified its product portfolio into graphics, audio devices, and computer memory. AMD achieved minor success in the 1980s by briefly competing in the modem industry. At the time, AMD manufactured the only modem compatible with the various idiosyncrasies of the different telephone companies. In the late eighties AMD decided to devote its focus mainly to designing and manufacturing microchips. The company chose to compete directly with Intel and their established chip architecture.
AMD acquired ATI Technologies in 2006, marking the company’s serious entry into the graphics industry. AMD’s jump into graphics got off to a rocky start. Later that year, AMD and its main rival in the graphics industry, NVIDIA, were accused of price fixing and faced court proceedings.
After a prolonged period of poor performance, AMD announced plans to spin-off manufacturing operations to form a joint venture with Advanced Technology Investment Co. The new venture is called Global Foundries Inc. This partnership allowed AMD to focus solely on chip design and leave manufacturing to its partner. The spin-off caused a loss of approximately one thousand jobs, which was about 10% of AMD's global workforce.
The workforce reductions did not stop there. In November 2011, AMD announced plans to lay off more than 10% (1,400) of its employees worldwide. Subsequently, in October 2012, AMD announced another plan to release an additional 15% of its workforce to reduce costs because of declining sales revenue.

The Business Model
Product & Value Proposition
AMD is a global semiconductor company with facilities around the world. Within the global semiconductor industry, AMD offers primarily:
Computing Solutions: Microprocessors, both as standalone devices and incorporated as accelerated processing units (APU). This segment is also composed of chipsets (circuits that interact with various hardware components), embedded processors, and server solutions.
Graphics and Visual Solutions: Comprised of graphics processing units (GPUs), including professional graphics, semi-custom System-on-Chip (SOC) products, development services, and technology for game consoles.
A microprocessor is an integrated circuit that serves as the central processing unit of a computer. It generally consists of hundreds of millions of transistors (an electronic switch) that process data and control other devices in the system. It is the “brain” of the computer. AMD currently designs, develops, and sells microprocessor products. Their products complement desktop PCs, notebooks, tablets, hybrids, servers and embedded products. Its microprocessors and chipsets are incorporated into computing platforms that also include GPUs and core software to enable and advance the computing components.
Customers generally use AMD’s graphics and visual solutions to increase the speed of rendering images and improving image resolution and color definition. AMD develops its products for use in desktop PCs, notebooks, tablets, professional workstations, servers and gaming consoles.
Manufacturing
Manufacturing is mainly outsourced to:
Global Foundries: Microprocessor and APU products
Taiwan Semiconductor Manufacturing Company: Certain graphics processors and chipsets, embedded processors and APU products
AMD owns and operates two assembly, testing, and packaging facilities in Penang, Malaysia and Suzhou, China. Some wafers for its products are delivered from third-party foundries to its assembly, test, mark and packaging facilities.
Customer
AMD’s microprocessor customers consist primarily of original equipment manufacturers (OEMs), original design manufacturers (ODMs), system builders, and independent distributors in both domestic and international markets. ODMs provide design and/or manufacturing services to branded and unbranded private label resellers, OEMs, and system builders. AMD’s graphics products customers include all of the above, as well as add-in-board manufacturers, or AIBs.
Customers of AMD’s chipset products consist primarily of PC and server OEMs, as well as desktop and server motherboard manufacturers, who incorporate chipsets into their motherboards.
Collectively, AMD’s top five customers accounted for approximately 54% of its net revenue during 2013. In 2013, Hewlett-Packard Company, Microsoft Corporation and Sony Corporation each accounted for more than 10% of its consolidated net revenues. Sales to Hewlett-Packard consisted primarily of products from its Computing Solutions segment. Sales to Microsoft and Sony consisted primarily of products from its Graphics and Visual Solutions segment. Five customers, including Hewlett-Packard, accounted for approximately 58% of the net revenue attributable to its Computing Solutions segment. In addition, five customers, including Hewlett-Packard, Microsoft and Sony, accounted for approximately 70% of the net revenue attributable to its Graphics and Visual Solutions segment. A loss of any of these customers could have an adverse effect on AMD’s business.
Sales and Marketing
AMD’s sales and marketing teams work closely with customers to define product features, performance, and timing of new products. This way, the product developments meet customers’ needs. AMD also employs application engineers to assist its customers in designing, testing and qualifying system designs that incorporate its products, in order to assist in optimizing product compatibility.
AMD works closely with its customers to create differentiated products that leverage its CPU, GPU and APU technology. Customers pay AMD non-recurring engineering fees for design and development services along with a purchase price for its semi-custom products.
AMD sells its products through its direct sales force and through independent distributors and sales representatives in both domestic and international markets. Its sales arrangements generally operate on the basis of product forecasts provided by the particular customer, but do not typically include any commitment or requirement for minimum product purchases.
AMD markets its products through its direct marketing and co-marketing programs. Additionally, AMD has cooperative advertising and marketing programs with customers and third parties. These programs include market development programs, which may provide product information, training, marketing materials and funds. Under its co-marketing development programs, eligible customers can use market development funds as partial reimbursement for advertisements and marketing programs related to its products.

Research and Development
AMD focuses its research and development activities on improving and enhancing product design. One main area of focus is on delivering the next generation of products with greater system level integration of the CPU and GPU. The company also strives to transform its products into SOCs, which have improved system performance and performance-per-watt characteristics than standalone processors. AMD is focusing on improving the battery life of its microprocessors and APU products for notebooks and tablets, along with the power efficiency of its microprocessors for servers. AMD is also focusing on delivering a range of low-power integrated platforms to serve key markets including commercial clients, mobile computing, gaming and media computing. AMD also works with industry leaders on process technology, software, and other functional intellectual property. AMD also works with others in the industry, public foundations, universities and industry consortia to conduct early stage research and development.
AMD conducts product and system research and development activities for its products in the United States. Additional design and development engineering teams are located in China, Canada, India, Singapore, Taiwan and Israel.
Financial Performance
Key Financial Data Although AMD’s revenue and cost have become steady over the past five years, its gross margin and net income continue to decline.

Financial Performance by Product Group *All others include mainly memory products and personal connectivity solutions products.
AMD’s revenue from its Graphics and Visual Solutions product category has been on a steady rise and looks promising for AMD’s future. *All others include mainly memory products and personal connectivity solutions products.
AMD’s gross margins reflect that it continues to lose money on its Computing Solutions category. However, Graphics and Solutions products have and continue to be profitable products.
Financial Performance compared to Competitors Intel continues to be the dominant player in the industry. NVIDIA is also slowly gaining a stronger position in the market. Fluctuations in AMD’s revenue mirror those of Intel, indicating that they compete for the same market space.

The Environment
AMD and the Competitive Environment
The biggest external threat looming over AMD is the competitive nature of the microprocessor industry. A confluence of factors encourages intense rivalry among the markets key players. Production is characterized by economies of scale at the extreme. Fixed costs of production, including R&D, are very high when compared to the cost of producing one more unit at the margin. This encourages AMD to run each factory at full capacity while making it necessary to grab majority market share. At the same time, buyers hold a significant amount of power over the microprocessor manufacturers. They are concentrated in number and play their suppliers against one another for the best bids. The realities of the market heavily encourage competition on price and the preservation of market share by all means necessary.
AMD’s chief competitor is Intel. The rivalry between the two firms has greatly affected AMD’s performance and shaped its position in the market. The battle has historically been fought in both the legal and economic arenas. AMD has pursued legal action against Intel several times, beginning in the 1980s. Back then, IBM was the dominant buyer of microprocessors, holding a near monopolistic position in the market. Both AMD and Intel supplied the company with chips, but AMD licensed Intel’s architecture to cater to IBM’s demands. AMD eventually sued Intel on grounds that they were purposefully sabotaging AMD’s operations by providing “deliberately incomplete, deliberately indecipherable, and deliberately unusable” technical blueprints. The legal battles continued well into the 21st century with arbitration over predatory pricing and anti-trust concerns.
In the economic sphere, the two companies fought almost entirely over price. This is largely due to the lack of differentiation in the two competitors’ products. Even though innovation is highly important and the life cycle of a processor line is very short, there is very little that technically differentiates microprocessors from one company to the other. The resulting price wars initiated by Intel and AMD in the mid-2000s were notoriously drastic and pronounced. May of 2006 may have been the peak of the AMD-Intel price war. Intel cut prices on some of its microprocessor lines by as much as 50%, forcing AMD to respond in order to simply keep up.
The high level of bargaining power that buyers are able to exert over AMD and Intel exacerbates the problem. There are only a handful of OEMs in the market and they understand the economics of the chip market very well. To put it in perspective, 58% of AMD’s net profit in the Computing Solutions segment (microprocessors) in 2013 was attributed to only five customers. They understand that AMD has an incentive to fully utilize its manufacturing capabilities because of scale economies and they use this to drive down prices.
Because of such a highly concentrated base of demand, sustaining market share is very important for both Intel and AMD. Intel has been ruthlessly effective in stealing AMD’s client base. Intel would offer generous price rebates to buyers who agreed not to deal with AMD. One illustrious case involves NEC’s Japanese market. AMD initially supplied 84% of NEC’s supply of microprocessors in Japan before Intel wiped that share down to virtually zero by offering NEC a non-compete contract.
Technological Disruption and Changing Consumer Demand
The rising popularity of handheld devices in the form of smartphones and tablets has had a disruptive effect on the microprocessor industry. Mobile devices are perceived as a very real substitute to traditional computing devices such as PCs and laptops. Worldwide, PC shipments have declined 6.9% from the fourth quarter of 2012; Q4 of 2013 marks the seventh consecutive quarter of decline. Although AMD is not in the PC business directly, its profitability greatly depends on the wellbeing of the PC market. Approximately 60% of AMD’s revenue in 2013 came from its Computing Solutions segment, which is highly reliant on PC sales.
Gaming Industry
The global video game industry is expected to grow to $112 billion in sales by 2015. The big three platform makers for next generation gaming – Sony, Nintendo and Microsoft – rely heavily on AMD’s GPUs and CPUs. For five of the six shipping platforms (Nintendo Wii, Nintendo Wii U, Sony PlayStation 4, Microsoft Xbox 360, Microsoft Xbox One and PC), AMD’s Radeon is the sole choice in the game development process. AMD’s flexibility in collaborating with developers for game design provides it with the competitive edge needed for catering to clients with very different needs.
The gaming industry is undergoing major changes, both for developers and users. Microsoft, for instance, is considering using Cloud Computing to continuously improve one’s gaming experience, and in turn making game consoles unnecessary and obsolete. AMD is swiftly moving with this trend by recently releasing the AMD Radeon Sky Series of GPUs, which are specifically engineered to render, compress, and stream games in the Cloud. Another shift in the gaming industry is movement towards the mobile market. Both NVIDIA and Intel are making waves with their Tegra4 and Atom series processors, respectively. Qualcomm is also looking at releasing its APU, Snapdragon 800, to the smartphone market. Although AMD recently launched its next generation APUs for tablets and laptops, it is still lagging in the mobile market. As per Lisa Su, GM of AMD’s Global Business Units, AMD has no plans to enter the smartphone market. This might impact AMD’s mobile gaming market share.
In the PC gaming world, AMD has a steady hold with new releases such as the Richland APU, Radeon Sky Series of GPUs, 5GHz AMD FX 9590 chips and the Jaguar core for consoles. AMD is intensely focused on gaming technologies. AMD’s graphics IP is intimately woven through most of their products. These indicate strong synergies amongst their teams and within AMD’s technology portfolio.
With its Unified Gaming Strategy, AMD aims to drive the gaming market across consoles, cloud platforms, tablets and PCs. By providing innovative graphics technologies and working with the world's leading hardware and game developers, AMD has effectively positioned itself to drive the next revolution in gaming.
Supplier relationship and ARM
AMD procures a stable supply of silicon wafers at a competitive price from its spin-off, Global Foundries. AMD has an equity stake in the company and hence enjoys a dominant position in this supplier relationship, giving it a key competitive edge over its rival Intel.
In 2012, AMD announced its collaboration with ARM on a chip manufacturing system to lower the energy envelope of server-based computing. The Opteron A1100, a 64-bit ARM Cortex A57 technology-based processor, was launched this year for multiple markets, starting with cloud and data center servers. Also during 2012, AMD acquired SeaMicro, a low-power server manufacturer. Both these moves suggest that in the server space, AMD plans to sell server hardware directly to Web companies rather than to hardware vendors like Dell or HP. Regaining its hold in the micro-server space, which is considered to be a high-margin market, may prove to be a turning point for AMD.

The AMD vs. Intel Battle
AMD’s strategy to tackle Intel
Competing with an entrenched incumbent in any industry is difficult and an incumbent that is as strategically competitive as Intel can be tricky. AMD targeted the vulnerabilities of Intel and laid its strategy accordingly. AMD’s strategy to compete with Intel was based on the following three aspects:
Targeting the Intel brand: AMD aggressively targeted Intel’s anti-trust activity worldwide, thus bringing down Intel’s image worldwide. This created doubts in the minds of suppliers causing them to consider AMD out of their hesitation to associate themselves with the Intel brand.
Eliminate Intel’s technical advantage: AMD’s acquisition of ATI was an attempt to target Intel’s weakest link in the technology sphere. Intel was not able to copy this strategy as other near competitors in the market such as NVIDIA were too costly to acquire. This acquisition gave AMD the technical advantage that other competitors lacked. The ability of AMD to successfully execute this merger and quickly converge the products, resulted in keeping Intel at bay.
Focusing on OEM’s needs: AMD was able to compete with Intel in the OEM space by redefining vendor relationships. AMD delivered on the things that OEMs valued most by understanding their needs. This took the form of a more flexible and diverse range of platforms, and in some cases customized design. AMD’s allocation of considerable resources towards this attempt paid off. Customer satisfaction developed loyalty with the vendors who, over time, became more comfortable with the firm. By understanding the importance of value creation for the customers, AMD was able to clearly differentiate itself from its competitors.
What went wrong?
Inefficient Execution of Strategies
Considerable delays and manufacturing problems plagued the progress of highly anticipated products such as Barcelona desktop architecture and the Fusion. Much of the enthusiasm that was generated was extinguished quickly. The necessary corrective actions necessary did not follow swiftly. As a result, Intel capitalized on this by unveiling Core i7-920 followed by Core i3 and i5 within the next two years. AMD was not quick enough to launch its pricier FX processors; eventually, when they arrived, their performance was no better than Intel’s midrange Core i3 and i5.
Strategically Unaligned Partnerships
Some of the issues AMD faced can be attributed to the misfit of core competencies between AMD and ATI. Due to the merger, AMD stopped handcrafting CPUs and switched to faster automated methods used by ATI. This change resulted in performance loss and efficiency issues, as crucial parts were designed by machines rather than by experienced engineers.
Inability to Understand the Market
There are a number technology market trends that are directly related to the semiconductor industry and AMD. The current market is characterized by a decline in global PC shipments (down 13%), threat of cannibalization from smart phones and tablets, and lower consumer demand ahead of the launch of a new Windows Operating System. With more than 75% of AMD’s value coming from the PC market, AMD had no clear strategic plan to deal with market condition and take advantage of new opportunities. The hot trend was the increasing demand and popularity of smartphones and tablets, but AMD had no significant expertise in phone and chip design, especially the SoC (integrated circuit that integrates all components of a computer or other electronic systems into a single chip) that is used in all of today’s top sellers.
Operational Inefficiency: Inventory and Supply related issues
AMD always had problems getting enough chips onto the market to satisfy the demand. In order to meet the demand for its high-end parts to its favorite manufacturers such as Dell, AMD undersupplied to smaller, less influential builders of systems.
While it seems like AMD has no trouble coming up with products to tackle competition from Intel and NVIDIA, AMD seems to lack the operational capability to compete with its competitors. AMD has had trouble with two of its most recent products, the Bulldozer CPU and the Llano APU. Not only was the Bulldozer CPU late to the market, but it did not meet performance demands and consumed more power than originally anticipated. With the Llano APU, AMD suffered $100 million in inventory write-offs during the third quarter of the 2012 fiscal year. As a result, AMD’s chips have only been able to compete at the lower and middle ends of the market, with no relevant impact in the high margin upper-end market.
Even when they have introduced decent products, AMD has faced manufacturing problems. Although not personally at fault, AMD suffered massive losses because of partner Global Foundries. As a result, AMD not only had trouble with limited supply of their Llano APUs, but were also faced with delays in their next generation Bulldozer CPU. With respect to the Llano APU, the product required a new motherboard chipset that AMD didn’t allocate properly, leading to the inventory problems mentioned above. With these inefficiencies, manufacturers have designed current laptops and Windows 8 OS with Intel in mind, rather than AMD. Further adding to their troubles, AMD had to turn to new suppliers while paying a $703 million onetime fee to Global Foundries to amend their agreement.

In-adept Leadership
AMD has also been plagued by ineffective decisions by its leadership. On the verge of the potential acquisition of graphics company NVIDIA, one of their main competitors and an industry powerhouse, the AMD leadership balked at allowing Jen-Hsun Huang, NVIDIA CEO, to run the combined company. Instead AMD leadership turned its attention to ATI Technologies, another graphics company, and ended up paying $5.4 billion to acquire it. This deal has left AMD in billions of dollars of debt with AMD leadership admitting it overpaid to acquire ATI in a moment of desperation. Not only did they overpay for ATI, but due to a lack of leadership, employees have often prioritized the needs of their division’s individual products, rather than the combined products of the two companies. This lack of collaboration has led to delays in the introduction of new and improved products.
The inefficient leadership at AMD can be attributed to the frequent changes in AMD’s top management. The CEO in charge when they acquired ATI, Hector Ruiz, quit in 2008 in the middle of major layoffs due to the economic recession. Two years later, the AMD board ousted CEO Dirk Meyer due to declining stock prices. The CFO, Thomas Siefert, was appointed as acting CEO but he also quit seven months into the job. After eight months, AMD hired current CEO Rory Read from Lenovo. Under Read, AMD has made a push to force out AMD’s old guard in favor of a fresh perspective from the likes of IBM and Intel, further destabilizing AMD’s leadership structure. Although Read seems to have a plan, with new leadership every couple of years, there seems to be no sense of direction at AMD in the short-term.

Recommendations
ARM Collaboration
The collaboration with ARM may make AMD the major processor provider to bridge the X86 and 64-bit ARM ecosystems. Since AMD and Intel are the only two companies that offer X86 architecture in microprocessor industry, Intel would still be the only major rival competing with AMD.
It is hard for AMD to counter Intel’s Core processors. However, with the ARM licenses, and the launch of Bulldozer architecture, AMD can integrate its own technology to develop competitive server parts and high-end server processors. This collaboration with ARM can give AMD an edge as it already has relevant expertise in the market, helping AMD fend off the threat from new entrants, such as NVIDIA.
Also, AMD’s comprehensive strategy is structured to address the most important issues in the data center: power, space, and bandwidth. The collaboration will offer AMD differentiations and choices, with the foundation around CPU, APU and fabric. By collaborating with ARM, AMD will be able to leverage its extraordinary Intellectual Property portfolio, including its AMD Freedom supercomputer fabric. This product incorporates the ARM 64-bit processor core to build solutions that can transform the industry.
Focus on Console and high-end PC gaming
The world’s growing video gaming industry is becoming an important market segment for AMD, offering AMD a great opportunity to gain significant revenue. In fact, this market allows AMD to move away from the declining PC platform processor market.
PC shipments are projected to decline by 7% this year. The atrophy of PC shipments is on account of the increasing demand for tablets, which are overtaking the PC market. AMD can offset this negative trend in the PC market with growth in game console chips.
The CPU architecture used on game console combines all available features of a computer on a single chip, ranging from audio to graphics. As a result, it helps AMD’s graphics and visual solutions business by taking full advantages of AMD’s core competence.
Worldwide Home Console Forecast Sales (million units) 2012 2013 2014 2015 2016
Wii 6.48 2.91 1.15 0.22 -
Wii U 3.37 15.48 22.84 24.13 21.71
PS3 11.44 7.78 4.24 2.23 1.32
Xbox 360 11.33 7.34 3.56 1.38 0.52
PS4 - - 2.80 10.10 15.48
Xbox Next - 2.16 6.94 11.56 14.01
Total 32.62 35.68 41.53 49.63 53.04

As Laurent Michaud, the head of Consumer Electronics & Digital Entertainment Practice estimated, PS4 game console’s sales will reach 15.48 million, Xbox Next’s sales will reach 14.01 million and Wii U game console’s sales will reach over 21.71 million by 2016. If we take the analyst’s estimate and AMD is generating around $100 per console sold, then AMD can generate over $13 billion in revenue by 2016. This proves to be substantially more than its PC processors revenue.
Develop Smartphone Processors
As mentioned earlier, AMD has an advanced technology in APU and GPU production. This type of technology is also used in compact devices such as smartphones, with the appeal that it takes less space and reduces power consumption. Thus, with the rapid growth of the smartphone market, AMD can develop its smartphone processor business, to generate another growth point in revenue.
According to a market research from IDC, smartphones out shipped computers in the past three years, and the gap will continue to increase. 722 million smartphones were shipped in 2012, while in 2013, the number jumped to 919 million, with a growth of 27.3%. In 2014, the total shipments of smartphone will definitely surpass the 1 billion mark, demonstrating another milestone in the remarkable rise of smart devices.
Top-5 Company Market Share among Suppliers of Mobile Handset Baseband ICs
(Share of Global Revenue)
Q3-12 Rank Company Name Percent of Total
1 Qualcomm 52.3%
2 MediTek 14.9%
3 Intel 8.4%
4 Broadcom 5.6%
5 STMicroelectronics 5.3% Top 5 Companies 86.6% All Others 13.4%

Qualcomm currently dominates the smartphone processor market, followed by MediaTek and Intel. Even though the market appears to be crowded, AMD’s collaboration with ARM will offer AMD the competitive advantage in the smartphone processor market.
Conclusion
Collaborating with ARM can help AMD stabilize its market share in PC market and open the door to the smartphone processor market.
AMD's processor in gaming consoles and possible entry into smartphone processor market can gain a huge profit for the company. As the PC market declines, it is important for the company to offset this negative impact.
References
• "Silicon Valley Historical Association." Accessed March 10, 2014. http://www.siliconvalleyhistorical.org/
• "Wikipedia." Accessed March 10, 2014. http://en.wikipedia.org/wiki/Advanced_Micro_Devices.
• Andrew Cunningham and Cyrus Farivar. “The rise and fall of AMD: A company on the ropes.”ArsTechnica, April 22, 2013. Accessed March 10, 2014. http://arstechnica.com/business/2013/04/amd-on-ropes-from-the-top-of-the-mountain-to-the-deepest-valleys/
• Chris Kraeuter. “AMD, Intel Race To The Bottom.” Forbes, June 28, 2006. Accessed March 10, 2014. http://www.forbes.com/2006/06/28/pricing-earnings-intel-cx_ck_0628intel.html
• “Advanced Micro Devices, Inc. Form 10-K.” Accessed March 10, 2014. http://ir.amd.com/phoenix.zhtml?c=74093&p=irolsec&secCat01.1_rs=11&secCat01.1_rc=10
• Robert E. Cooper. “AMD v. Intel: An Assault on Price Competition.” GCP, March 2008. Accessed March 10, 2014. http://www.intel.com/pressroom/legal/docs/Cooper_GCP_Mar08.pdf
• “Gartner Says Worldwide PC Shipments Declined 9.6 Percent in Fourth Quarter of 2013.” Gartner, January 9, 2014. Accessed March 10, 2014. http://www.gartner.com/newsroom/id/2647517
• Syed Muhammad Usman Pirzada. “Advanced Micro Devices (AMD) Outlook Generally Favourable – Trend Starts Recovering After Big Plummet.” WCCF Tech. Accessed March 10, 2014. http://wccftech.com/advanced-micro-devices-amd-outlook-generally-favourable-trend-recovering-plummet/
• Javier Hasse. “AMD Gaming: How the Company is Betting on This Trend.” Insider Monkey, October 1, 2013. Accessed March 10, 2014. http://www.insidermonkey.com/blog/amd-gaming-how-the-company-is-betting-on-this-trend-257262/
• Nick Bilton. “Video Game Industry Continues Major Growth, Gartner Says.” The New York Times, July 5, 2011. Accessed March 10, 2014. http://bits.blogs.nytimes.com/2011/07/05/video-game-industry-continues-major-growth-gartner-says/?_php=true&_type=blogs&_r=0
• AnandLalShimpi. “It Begins: AMD Announces Its First ARM Based Server SoC, 64-bit/8-core Opteron A1100.” AnandTech, January 28, 2014. Accessed March 10, 2014. http://www.anandtech.com/show/7724/it-begins-amd-announces-its-first-arm-based-server-soc-64bit8core-opteron-a1100
• Dean Takahahi. “AMD revises contracts to lower its chip manufacturing costs.” Venture Beat, April 3, 2011. Accessed March 10, 2014. http://venturebeat.com/2011/04/03/amd-revises-how-it-pays-for-chip-manufacturing/
• “Why AMD’s Stock Collapsed And How It Can Recover.” Forbes, November 30, 2012. Accessed March 10, 2014. http://www.forbes.com/sites/greatspeculations/2012/11/30/why-amds-stock-collapsed-and-how-it-can-recover/
• “AMD Elite A10-5745M CPU With Radeon HD 8610G Graphics (Overview).” Laptoping, September 30, 2013. Accessed March 10, 2014. http://laptoping.com/amd-elite-quad-core-a10-5745m-cpu-with-amd-radeon-hd-8610g-graphics-overview.html
• “Video Game Sales Wiki.” Accessed March 10, 2014. http://vgsales.wikia.com/wiki/Seventh_generation_of_video_games
• “Q1 PC Shipments Drop By Most Ever.” April 11, 2013. Accessed March 10, 2014. http://www.zerohedge.com/news/2013-04-11/q1-pc-shipments-drop-most-ever • “AMD and ARM Collaborate to Build 64-bit ARM-based Processors.” Accessed March 10, 2014. http://www.amd.com/us/aboutamd/newsroom/Pages/presspage2012Oct29.aspx
• Ian King. “AMD Plans to Use ARM Designs in Chips for Servers in 2014.” Bloomberg Business Week, October 30, 2012. Accessed March 10, 2014. http://www.businessweek.com/news/2012-10-29/amd-faces-looming-cash-crunch-amid-quest-for-new-markets
• John Rath. “AMD To Design ARM-based Opteron CPUs.” Data Center Knowledge, November 1, 2012. Accessed March 10, 2014. https://www.datacenterknowledge.com/archives/2012/11/01/amd-to-design-integrated-64-bit-arm-based-opteron-cpus/
• Thomas Eisenmann and Justin Wong. “Electronic Arts in Online Gaming.” Harvard Business School, October 12, 2006. Accessed March 10, 2014. http://www.economics.neu.edu/dana/G208/Archive-G208-Summer2009/Nintendo_files/HBS%20Case%20-%20Electronic%20Arts%20-%20Online%20Games.pdf
• Dan Graziano. “Nielsen: 56% of U.S. households own a current video game console.” BGR, March 9, 2012. Accessed March 10, 2014. http://bgr.com/2012/03/09/nielsen-56-of-u-s-households-own-a-current-video-game-console/
• “Game console household penetration rate in Great Britain from 2007 to 2013.” Statista. Accessed March 10, 2014. http://www.statista.com/statistics/275747/game-console-penetration-rate-of--households-in-great-britain-since-2007/
• Martyn Williams. “PC shipments drop 11.4% in Q2 as Lenovo surpasses HP.” Computerworld, July 10, 2013. Accessed March 10, 2014. http://www.computerworld.com/s/article/9240705/PC_shipments_drop_11.4_in_Q2_as_Lenovo_surpasses_HP
• Sameer Singh. “Tablet Shipments To Overtake PCs By Q3/Q4 2013 (Revised Estimate).” Tech-Thoughts, May 7, 2013. Accessed March 10, 2014. http://www.tech-thoughts.net/2013/05/tablet-shipments-overtake-pcs-2013.html#.UxpNmb_z04c
• Sean Hollister. “Xbox One and PlayStation 4 make AMD profitable once more.” The Verge, October 17, 2013. Accessed March 10, 2014. http://www.theverge.com/2013/10/17/4850246/xbox-one-and-playstation-4-make-amd-profitable-once-more
• Laurent Michaud. “Next Gen Home Consoles: the Eighth and Final Generation?” Digiworld, March 4, 2014. Accessed March 10, 2014. http://blog.idate.fr/tag/video-game/
• Carly Page. “AMD makes more profit than Son on the PS4.” The Inquirer, November 20, 2013. Accessed March 10, 2014. http://www.theinquirer.net/inquirer/news/2308282/amd-makes-more-profit-than-sony-on-the-ps4
• “Intel eyes low-end smartphone market with new Atom chip platform.” Newsbytes, January 21, 2013. Accessed March 10, 2014. http://newsbytes.ph/2013/01/21/intel-eyes-low-end-smartphone-market-with-new-atom-chip-platform/
• Felix Richter. “Smartphone Shipments to Top 1 Billion in 2014.” Statista, March 27, 2013. Accessed March 10, 2014. http://www.statista.com/chart/1011/connected-device-shipment-forecast/
• Alex Colon. “Analyst predicts smartphone sales will slump in Q1, first time in two years.” Gigaom, January 17, 2014. Accessed March 10, 2014. http://gigaom.com/2014/01/17/analyst-predicts-smartphone-sales-will-slump-in-q1-first-time-in-two-years/