29 annotations
At CES, we announced Snapdragon Ride Flex, which enables digital cockpit, advanced driver assistance systems and automated driving functions to coexist on a single SoC
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2023 Q1
5 Feb 23
we remain focused on expanding our addressable market to approximately $700 billion in the next decade
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2023 Q1
5 Feb 23
Despite near-term headwinds, our long-term growth opportunities remain unchanged.
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2023 Q1
5 Feb 23
we expect to reduce non-GAAP operating expenses by approximately 5% relative to a run rate exiting fiscal ‘22
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2023 Q1
5 Feb 23
we’re implementing further spending reductions and streamlining operations
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2023 Q1
5 Feb 23
multiple end industries within IoT are also experiencing weaker-than-expected demand and elevated inventory levels
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2023 Q1
5 Feb 23
As the handset industry continues to experience reduced demand, we are now expecting elevated channel inventory levels to persist at least through the first half of calendar ‘23.
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2023 Q1
5 Feb 23
When we look at the second half of the year, as Cristiano said, we’re pretty optimistic that demand and channel inventory normalizes.
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2023 Q1
5 Feb 23
that just means you get the prepayment back over a longer period of time
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2023 Q1
5 Feb 23
a lot of our commitments were more in the form of prepayments rather than volume commitments
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2023 Q1
5 Feb 23
we expect inventory drawdowns to happen through the March quarter then going into the June quarter
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2023 Q1
5 Feb 23
from a handset perspective, what we’ve assumed in the March quarter is a standard seasonal decline
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2023 Q1
5 Feb 23
they’re going to be careful with additional purchases and draw down inventory
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2023 Q1
5 Feb 23
QCT customers to be cautious
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2023 Q1
5 Feb 23
Yes
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2023 Q1
5 Feb 23
do you guys think March quarter in general is the bottom?
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2023 Q1
5 Feb 23
You’re guiding handsets kind of flattish in March.
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2023 Q1
5 Feb 23
In the areas that we have more competition, which is mid- to low-tier, we also saw that’s the one that’s most impacted by the demand weakness.
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2023 Q1
5 Feb 23
we’re optimistic that the demand and channel inventory may normalize during the second half of the calendar year, and we remain in a strong position to take advantage of the opportunity when it occurs
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2023 Q1
5 Feb 23
we are incorporating a negative bias for 3G, 4G, 5G handset volumes for calendar ‘23 relative to calendar ‘22
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2023 Q1
5 Feb 23