No. That is incorrect.
The HD 6970 was meant to compete with the GTX 480. NVIDIA effectively one-upped AMD by releasing the GTX 580 and GTX 570 which meant that AMD's new card suddenly found itself competing with a $350 GTX 570 instead of a $500 GTX 480.
Personally, I hope that NVIDIA never releases a dual GPU card. It's just a waste of time and resources in an era where every motherboard in the $200+ range sports dual card functionality. Back when P35 was around, it made sense. Now it's just a play for bragging rights regardless of how buggy and problem-prone the card will become. And whether or not any will admit it, there is no magical mojo that can be added to a dual GPU product which will make it any more appealing than two dedicated separate cards.
Back on track:
Like it or not there is a reason why AMD is going to be allowing their board partners to release 1GB version of the higher-end SKUs and will be releasing a "performance" 11.1a "hotfix" right before NVIDIA introduces new products. At this point in time they are worried over the implications of a potential sub-$300 card which could potentially put a good portion of their current lineup to shame. NVIDIA did the same with the GTX 460 OC versions when the HD 6800-series was introduced.
Unfortunately, for all intents and purposes it looks like the mid-Feb release of 1GB AMD SKUs could be a pipe dream. I have talked to a number of board partners and quite a few don't even have these lower-priced cards on their roadmaps yet. Hopefully these won't be vaporware like the GTX 460 SE ended up being.





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