The present invention provides a new and unique method and apparatus for a new data speed switching scheme for a wired data interface. The method features receiving high-speed serial data over a physical link using a first coding scheme in a receiver; receiving a transmission mode change signal transmitted with sequential information about a change in a data transmission mode of the receiver using a second coding scheme and switching the data transmission mode of the receiver in response thereto. The data transmission modes may include at least one low-power mode where no data transmission is possible and the receiver is powered down. The at least one low-power mode may include two different power down states, each having different wake-up times. The data transmission modes may also include at least one high speed mode where data transmission is possible and the receiver is on. The at least one high speed mode may include several high speed modes, each having different data transmission rates.