Cristiano Amon

And I think that's how we think about the opportunity.

Yes.

So, you know, I think this is a very interesting, and it's, you know, every quarter we see this.

I know there's a lot of conversation about it, but it's a trend that has happened to Qualcomm over the past several years.

I want everybody to step back and look at what's happening with the handset market in general.

The handset smartphone is the most important consumer electronic purchase in the world.

It's our inseparable device.

And people want always to get a better device when they buy a new device.

What we see right now is the expansion of the premium tier.

So the market, Caroline, the units of handset market is still smaller on an annual basis than it used to be before COVID.

But what has happened and is driving a lot of growth from Qualcomm and Android over the past several years is the premium tier is expanding in size.

So if you look at the United States market, most of the devices are premium tier.

Most people will buy like an iPhone or a Galaxy.

That's now happening everywhere in the world.

It's happening in China, it's happening in India.

So we see premium tier expanding.

That makes a much richer market for us.

And then we see phones becoming more capable.

more compute, more AI that is driving silicon content.

That's why Android continues to grow with Snapdragon 8.