I think so:
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The communicating business market is shrinking now.
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They are developing 16nm ARM product which will occupy huge R&D expense which is what Hock really want to cut.
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The ARM server market is very small, 99% is dominated by x86, and has to compete with Qualcomm, Cavium and APM.
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A lot of key engineers left (of original RMI team), I (maybe Hock also :) ) doubting if it is wise to invest in this field.