by Brooke Crothers February 15, 2012 repost here 2/20/12

Nvidia is eying a market for inexpensive dual-core smartphones that underprice the iPhone 4S by a wide margin. That phone segment, which the graphics chipmaker calls the "1,000 RMB phone" in China, will use Nvidia's dual-core Tegra 2 processor paired with a 3G modem, according to Chief Executive Officer Jen-Hsun Huang, who spoke during the earnings conference call this afternoon. RMB refers to the Chinese currency. RMB 1,000 is about 75 percent less than the price of an iPhone 4S, which currently retails for RMB 4,988 in China. "That's a pretty exciting opportunity for us. And we're just about to enter into that market," Huang said during the call. Today Nvidia posted fourth-quarter net income of $116 million, or 19 cents per share, compared with $172 million a year ago, or 29 cents a share. Analysts were expecting 19 cents per share. Revenue for the quarter was $953 million, up from $886 million a year ago and beating analyst estimates by a small margin.

Read more here –>cnet.com