AMD kick-started 2012 with the release of the Radeon HD 7970, the first member of the Radeon HD 7000 GPU series. This launch marked the introduction of the first-ever graphics card to be made on a 28nm design process, representing the company's most complex GPU to date, with 4,313 million transistors in a 352mm2 die.

Following this release, through the year AMD shipped seven additional 28nm HD 7000 cards targeting price ranges from $100 through to $400, which is where the HD 7970 sits today (nearly 30% below its debut price). Most of AMD's lineup has undergone similar price cuts to address stiff competition from Nvidia's own 28nm GPU offerings.

Nvidia arrived slightly later to the party, roughly two months after the HD 7970 debut, the GeForce GTX 680 at $500 was cheaper and faster than the HD 7970, forcing AMD to make swift price cuts even though the GTX 680 remained in very limited supply for many months.