Cristiano Amon

That's why I think there's a lot of unnecessary, I think, speculation right now.

Here's what's going to happen.

We saw this with COVID.

OEMs, the first thing they're going to do, they're going to prioritize premium and high tier, you know, because those are more resilient, I think, to price increases.

We are going to see probably adjustment in prices on handsets.

And because, you know, demand is strong, it is very likely that the premium and the high tier is going to be less impacted than the mass tier on phones.

And we have seen that the premium tier continue to expand regardless.

Regardless, over the several years, the premium tier is expanding.

And we're more concentrated on the premium and the high tier.

So your theory is 100% correct.

All that happened is OEMs had thinking about a particular size of the year, that got resized by the memory availability, they're adjusting their build plans, and we're gonna see how this is gonna play out in the next few quarters.

That's really the story.

The good thing is demand is high.

It's one thing that I carefully worded, I think, during our earnings call.

I said the memory availability and pricing will be the defining factor for the size of the handset market.

And we talk about the size of handset market because we have visibility of the whole market because of our licensing business.

But now we're going to see how this play out.

And I'm a little hesitant to make a very definitive prediction on how this is going to play out in Q3 and Q4.

But the pandemic was a good proxy when we have something like that and we have a semiconductor shortage.

We saw the premium tier has been more resilient.