英特爾 (INTC) 2014 Q1 法說會逐字稿

Good day, ladies and gentlemen, and welcome to the Intel Corporation first-quarter 2014 earnings conference call.

女士們、先生們，美好的一天，歡迎參加英特爾公司 2014 年第一季財報電話會議。

(Operator Instructions)

（操作員說明）

As a reminder today's conference is being recorded.

提醒一下，今天的會議正在錄製中。

I would now like to turn the conference over to Mark Henninger, Head of Intel Investor Relations.

我現在想將會議交給英特爾投資者關係主管馬克‧亨寧格 (Mark Henninger)。

Please go ahead, sir.

請繼續，先生。

Thank you, and welcome everyone to Intel's first-quarter 2014 earnings conference call.

謝謝大家，歡迎大家參加英特爾 2014 年第一季財報電話會議。

By now you should have received a copy of our earnings release and the CFO commentary that goes along with it.

到目前為止，您應該已經收到了我們的收益發布以及隨之而來的財務長評論的副本。

If you've not received both document, they're available on our investor website, INTC.com.

如果您還沒有收到這兩份文件，可以在我們的投資者網站 INTC.com 上找到它們。

I'm joined today by Brian Krzanich, our CEO, and Stacy Smith, our Chief Financial Officer.

今天我們的執行長 Brian Krzanich 和財務長 Stacy Smith 也加入了我的行列。

In a moment we'll hear brief remarks from both of them followed by Q&A.

稍後我們將聽到他們兩人的簡短發言，然後是問答。

Before we begin, let me remind everyone that today's discussion contains forward-looking statements based on the environment as we currently see it, and, as such, does include risks and uncertainties.

在開始之前，讓我提醒大家，今天的討論包含基於我們目前所看到的環境的前瞻性陳述，因此確實包含風險和不確定性。

Please refer to our press release for more information on the specific risk factors that could cause actual results to differ materially.

請參閱我們的新聞稿，以了解有關可能導致實際結果出現重大差異的特定風險因素的更多資​​訊。

Also, if during this call we use any non-GAAP financial measures or references we'll post the appropriate GAAP financial reconciliation to our website, INTC.com.

此外，如果在本次電話會議期間我們使用任何非 GAAP 財務指標或參考資料，我們將在我們的網站 INTC.com 上發布適當的 GAAP 財務調節表。

So, with that let me hand it over to Brian.

那麼，讓我把它交給布萊恩。

Thanks, Mark.

謝謝，馬克。

2014 is off to a solid start, with our first quarter closing much as we expected.

2014 年有一個良好的開端，我們第一季的業績基本上符合我們的預期。

PC client platform unit volume was up year over year for the second consecutive quarter.

PC客戶端平台銷售連續第二季年增。

Even as challenges remain in the consumer client segment, we saw continued improvements in enterprise clients, driven by increasing form factor innovation and refresh.

儘管消費者客戶領域仍然面臨挑戰，但在不斷增加的外形創新和更新的推動下，我們看到企業客戶的持續改進。

Mobile unit volume was up year over year for the first time since Q2 2012, while desktop units were flat year over year, with all-time record core volume and mix.

行動裝置銷量自 2012 年第二季以來首次較去年同期成長，而桌上型電腦則較去年同期持平，核心銷量和組合創歷史新高。

Our Data Center revenue grew 11% year over year.

我們的資料中心營收年增 11%。

And the enterprise segment was again in positive territory, up 3% over last year, while cloud, networking and storage were all up in excess of 20%.

企業細分市場再次呈現正成長，比去年成長 3%，而雲端、網路和儲存的成長均超過 20%。

The newly formed Internet of Things Group, which includes our embedded business, grew 32% year over year, with particularly strong demand in in-vehicle infotainment and retail, while the Internet of Things Atom volume nearly doubled over Q1 of last year.

新成立的物聯網集團（包括我們的嵌入式業務）年增32%，其中車載資訊娛樂和零售的需求尤其強勁，而物聯網Atom的銷量比去年第一季幾乎翻了一番。

We had all-time record NAND revenue driven by the Data Center and particularly, the cloud.

在資料中心（尤其是雲端）的推動下，我們的 NAND 營收創下歷史新高。

And McAfee reported record Q1 bookings, along with an 8% year-over-year increase in consumer bookings.

McAfee 公佈第一季預訂量創歷史新高，消費者預訂量較去年同期成長 8%。

Perhaps more importantly, we made progress against our most critical strategic objective.

也許更重要的是，我們在實現最關鍵的策略目標方面取得了進展。

And I'd like to take a few minutes to highlight that progress.

我想花幾分鐘時間強調這項進展。

In PCCG, where we're working to reinvent computing with new form factor innovation, longer battery life and OS of choice, we saw two-in-one volume increase more than 20% sequentially in a seasonally down quarter.

在 PCCG，我們致力於透過新的外形創新、更長的電池壽命和選擇的作業系統來重塑運算，我們看到二合一銷量在季節性下降的季度中環比增長了 20% 以上。

We're now expecting more than 70 two-in-one designs for the back-to-school selling season.

我們預計返校銷售季將推出 70 多種二合一設計。

And many will be offered at $699 or less.

許多產品的售價為 699 美元或更低。

These trends, in combination with renewed interest in Windows 8 from our customers, are encouraging.

這些趨勢，再加上我們的客戶對 Windows 8 重新產生的興趣，令人鼓舞。

At the same time, we are ramping more than 130 Atom micro architecture notebook and desktop designs with our Bay Trail-M and -D platforms, significantly increasing our presence in the value segment.

同時，我們正在利用 Bay Trail-M 和 -D 平台推出 130 多種 Atom 微架構筆記本和桌上型電腦設計，顯著提高我們在價值領域的影響力。

And we exit the quarter with market segment share leadership on Chrome Systems.

本季結束時，Chrome 系統的市佔率處於領先地位。

And saw positive traction in small form factor and all-in-one computing.

並在小尺寸和一體式計算方面看到了積極的吸引力。

In DCG, we launched our Ivy Bridge MP server CPU family known as Xeon E7.

在 DCG，我們推出了 Ivy Bridge MP 伺服器 CPU 系列，稱為 Xeon E7。

The new E7 line, which features the largest memory footprint in the industry, saw particularly strong reception from enterprise as a result of its high speed, realtime data analytic capabilities.

新的 E7 系列具有業界最大的記憶體佔用量，由於其高速、即時數據分析功能，受到企業的特別強烈歡迎。

We also announced an important strategic alliance with an investment in Cloudera which is designed to accelerate Hadoop innovation and penetration, particularly on IA.

我們也宣布了一項重要的策略聯盟，投資了 Cloudera，旨在加速 Hadoop 的創新和滲透，特別是在 IA 方面。

We've broken out MCG results for the first time this quarter.

我們本季首次公佈了 MCG 業績。

In order to achieve long-term success in all of our market segments, from two-in-ones all the way through to the Internet of Things, we're making the investments necessary for leadership.

為了在我們所有的細分市場（從二合一一直到物聯網）取得長期成功，我們正在進行必要的投資以取得領先地位。

And you can see these investments in MCG's results.

您可以在 MCG 的表現中看到這些投資。

For example, at Mobile World Congress in February, we announced multi-year, multi-device agreements with Lenovo, Asus, Dell and Foxconn to expand availability of out-of-base smartphones and tablets.

例如，在二月的世界行動通訊大會上，我們宣布與聯想、華碩、戴爾和富士康簽訂多年期多設備協議，以擴大外地智慧型手機和平板電腦的可用性。

We set an aggressive goal of shipping 40 million tablet SoCs this year.

我們設定了今年出貨 4000 萬片平板電腦 SoC 的雄心勃勃的目標。

And I'm happy to say we've tallied more than 90 designs on Android and Windows and shipped 5 million units in the first quarter, placing us squarely on track to that goal.

我很高興地說，我們已經在 Android 和 Windows 上統計了 90 多種設計，第一季的出貨量達到 500 萬台，這使我們完全走上了實現這一目標的軌道。

Our first LTE solution, the 7160, is now available in the Samsung Galaxy Note 3 Neo, and the Asus Fonepad 7, in addition to the previously announced Samsung Galaxy Tab 3. Our Cat 6 LTE solution, the 7260, with carrier aggregation, is on track to ship this quarter.

除了先前發表的三星 Galaxy Tab 3 之外，我們的首款 LTE 解決方案 7160 現已應用於三星 Galaxy Note 3 Neo 和華碩 Fonepad 7。發貨。

And Samsung, Asus, Lenovo, and Dell are all committed to the platform on a combination of phone and tablets, along with module vendors like Huawei and Sierra Wireless.

三星、華碩、聯想和戴爾以及華為和 Sierra Wireless 等模組供應商都致力於該平台的手機和平板電腦組合。

We demonstrated SoFIA, our first integrated apps processor and baseband, after adding it to the road map late last year.

我們在去年年底將其添加到路線圖後，展示了 SoFIA，這是我們的第一個整合應用處理器和基頻。

We're on track to ship the 3G solution to OEMs in Q4 2014, with the LTE version following in the first half of 2015.

我們預計將在 2014 年第四季向 OEM 提供 3G 解決方案，LTE 版本將在 2015 年上半年推出。

In the new devices and Internet of Things Group, we're working to extend Intel technology into the fast growing world of interconnected devices.

在新設備和物聯網事業部，我們正在努力將英特爾技術擴展到快速成長的互連設備領域。

We completed the acquisition of Basis.

我們完成了Basis的收購。

Basis provides access to new world-class technology and a team of proven innovators.

Basis 提供世界一流的新技術和經過驗證的創新團隊。

We also shipped our first Quark SoCs for the Internet of Things.

我們也推出了首款用於物聯網的 Quark SoC。

And announced an upgrade of Edison to the Silvermont Atom architecture.

並宣布將Edison升級至Silvermont Atom架構。

Edison is on track to ship this Summer.

愛迪生預計將在今年夏天發貨。

And in the Technology and Manufacturing Group, whose work to advance Moore's Law is foundational to our long-term success, we began production on our 14-nanometer process technology.

在技​​術和製造團隊中，我們開始採用 14 奈米製程技術進行生產，該團隊推進摩爾定律的工作是我們長期成功的基礎。

And remain on track to launch Broadwell in the second half of the year.

並預計在今年下半年推出 Broadwell。

And the foundry team extended our collaboration with Altera to the development of multi-die devices that take advantage of our world-class package and assembly capabilities and Altera's leading-edge programmable logic.

代工團隊將我們與 Altera 的合作擴展到多晶片元件的開發，這些元件利用了我們世界一流的封裝和組裝能力以及 Altera 領先的可程式邏輯。

Taken together, these milestones give me confidence that the pace inside our Company and our progress with our customers is accelerating.

總而言之，這些里程碑讓我相信我們公司內部的步伐以及我們與客戶的進步正在加快。

We've made a lot of changes.

我們做了很多改變。

We have more work to do but I'm confident that we will continue to transform and realize our vision that if it computes, it does it best with Intel.

我們還有更多工作要做，但我相信我們將繼續轉型並實現我們的願景：如果它能計算，那麼與英特爾一起發揮最佳效果。

With that, let me turn the call over to Stacy.

接下來，讓我把電話轉給史黛西。

Thanks, Brian.

謝謝，布萊恩。

The first quarter came in consistent with expectations, demonstrating financial growth and a solid start to the year.

第一季的表現符合預期，顯示出財務成長和今年的良好開局。

For the first quarter, revenue came in at $12.8 billion, up 1% from a year ago and in line with expectations.

第一季營收為 128 億美元，年增 1%，符合預期。

PC Client Group revenue was down 1% from a year ago.

PC客戶端集團營收年減1%。

We saw PC Client Group platform unit volumes grow 1% year over year and inclusive of tablets, we saw high single-digit unit growth.

我們看到 PC 客戶端組平台銷量較去年同期成長 1%，包括平板電腦，我們看到單位數的高單位成長。

PC platform average selling prices declined 3% on a year-on-year basis.

PC平台平均售價較去年同期下降3%。

Our Data Center Group revenue grew 11% from a year ago, with platform volumes up 3% and platform average selling prices up 8% over the same period.

我們的資料中心集團營收年增 11%，平台銷量較去年同期成長 3%，平台平均售價較去年同期成長 8%。

Some insights into the revenue results of our new segments.

對我們新細分市場收入結果的一些見解。

The Mobile and Communications Group is down 61% from a year ago.

行動和通訊集團年減 61%。

The underlying dynamics are consistent with what we shared at the investor meeting last November.

基本動態與我們在去年 11 月投資者會議上分享的內容一致。

We are seeing a decline in our feature phone and 2G/3G multi-com business, as we are in the midst of a transition to integrated LTE solutions.

由於我們正處於向整合 LTE 解決方案過渡的過程中，我們的功能手機和 2G/3G 多通訊業務正在下降。

In addition, the ramp in tablet volume is being offset by an increase in contra revenue dollars.

此外，平板電腦銷量的成長被相反收入的增加所抵消。

The Internet of Things Group is up 32% year on year.

物聯網集團較去年成長32%。

We continue to see robust growth across segments, with particular strength in point-of-sale devices in retail, and automotive in-vehicle infotainment systems.

我們繼續看到各個細分市場的強勁成長，尤其是零售銷售點設備和汽車車載資訊娛樂系統。

Gross margin of 60% was down 2 points from the fourth quarter and 1 point above our guidance.

毛利率為 60%，比第四季下降 2 個百分點，比我們的指導值高 1 個百分點。

Spending came in at $4.9 billion, $100 million above our outlook, primarily driven by a current period charge related to ongoing litigation.

支出為 49 億美元，比我們的預期高出 1 億美元，這主要是由與正在進行的訴訟相關的當期費用推動的。

Operating income for the first quarter was $2.5 billion, up 1% from a year ago.

第一季營業收入為25億美元，年增1%。

And earnings per share was $0.38, down 5% from a year ago.

每股收益為0.38美元，比去年同期下降5%。

As we look forward to the second quarter of 2014, we are forecasting the mid point of the revenue range at $13 billion, up 2% from the first quarter.

展望 2014 年第二季度，我們預測營收範圍的中點為 130 億美元，比第一季成長 2%。

This forecast is in line with the average seasonal increase for the second quarter.

這項預測與第二季的平均季節性成長相符。

We are forecasting the mid point of the gross margin range for the second quarter to be 63%.

我們預測第二季毛利率範圍的中點為 63%。

The 3 point increase from the first quarter is primarily driven by lower factory start up costs as we ramp [14-nm].

較第一季成長 3 個百分點主要是由於我們 [14 奈米] 產能提升過程中工廠啟動成本降低。

We are also forecasting higher platform volume and lower platform write-offs on the qualification of our first 14-nanometer products.

我們也預測，在我們首批 14 奈米產品的資格認證中，平台銷量將會更高，平台沖銷也會更低。

This is partially offset by the increase in tablet volume and the related contra revenue dollars.

這部分被平板電腦銷售的增加和相關的對銷收入所抵銷。

Turning to full year 2014.

轉至2014年全年。

We are still planning for revenues to be approximately flat to 2013.

我們仍計劃收入與 2013 年基本持平。

We expect PC Client Group revenue to decline in the mid single digits and the Data Center Group revenue to grow in the low double digits.

我們預期 PC 用戶端集團營收將出現中個位數下降，而資料中心集團營收將出現低兩位數成長。

We are forecasting the mid point of our gross margin range at 61%, up 1 point from the outlook provided in January.

我們預測毛利率範圍的中點為 61%，比 1 月提供的展望上升 1 個百分點。

This increase is primarily driven by lower unit costs across both our PC and tablet products and lower non-production manufacturing costs.

這一增長主要是由於我們的個人電腦和平板電腦產品的單位成本降低以及非生產製造成本降低所致。

We are forecasting spending for the year at $18.9 billion.

我們預計今年的支出為 189 億美元。

This $300 million increase over the prior outlook is driven by increased R&D investments and litigation expenses.

與先前的展望相比，這一增幅為 3 億美元，這是由於研發投資和訴訟費用的增加所致。

We still expect capital spending to be flat to 2013, with the mid point at $11 billion.

我們仍預期 2013 年資本支出將持平，中位數為 110 億美元。

The first quarter was a solid start to 2014, reinforcing our view of the underlying market trends.

第一季是 2014 年的良好開端，強化了我們對基本市場趨勢的看法。

The PC market has stabilized.

個人電腦市場已經穩定。

And on a year on year basis we saw unit growth for the second quarter in a row.

與去年同期相比，我們看到第二季的單位數量連續成長。

In the Data Center we continue to see robust growth rates in the cloud segment and the enterprise segment grew in the first quarter.

在資料中心，我們持續看到雲端領域和企業領域在第一季的強勁成長。

These trends led to Data Center growth of 11% year on year.

這些趨勢導致資料中心年增 11%。

We are winning designs and ramping our tablet volume rapidly.

我們正在贏得設計並迅速增加我們的平板電腦銷售。

And we have design wins in LTE that will result in a second-half revenue ramp.

我們在 LTE 領域取得了設計勝利，這將帶來下半年收入的成長。

Our Internet of Things business grew over 30% in the first quarter on a year-on-year basis.

我們的物聯網業務第一季年增超過30%。

And we are driving significant innovation in this area as we invest to extend our architecture into the very low power space and acquire IP and capabilities.

我們正在推動這一領域的重大創新，因為我們投資將架構擴展到極低功耗領域並獲得 IP 和功能。

At IDF Beijing two weeks ago we showcased the broad range of products we are bringing to the marketplace.

兩週前，在北京 IDF 展會上，我們展示了我們推向市場的各種產品。

These products range from servers in the Data Center to innovative PC form factors like detachables and all-in ones, to tablets to phones and to wearables.

這些產品範圍從資料中心的伺服器到創新的 PC 外形尺寸（如可拆卸式和一體式）、平板電腦、手機和穿戴式裝置。

This is our strategy in action.

這是我們的實際策略。

If it computes, it does it best with Intel inside.

如果它能進行計算，那麼它在內建英特爾處理器的情況下表現最佳。

With that, let me turn it back over to Mark.

有了這個，讓我把它轉回給馬克。

Thank you, Brian and Stacy.

謝謝你們，布萊恩和史黛西。

We're getting a little bit of feedback that some of you may be having a hard time hearing us so I'm trying a different mic here and we'll hope that that's better.

我們收到了一些回饋，其中一些可能很難聽清我們的聲音，因此我正在嘗試使用不同的麥克風，我們希望這會更好。

Moving on to the Q&A, as is our normal practice we'd ask each participant to ask one question and a follow-up if you have one.

接下來是問答環節，按照我們的慣例，我們會要求每位參與者提出一個問題，如果有問題，請跟進。

Jamie, please go ahead and introduce our first questioner.

傑米，請繼續介紹我們的第一位提問者。

(Operator Instructions)

（操作員說明）

Chris Danely from JPMorgan.

摩根大通的克里斯丹利。

Thanks, guys.

多謝你們。

A question on gross margins.

關於毛利率的問題。

It's going up nicely in Q2 but if we look at the yearly guidance it looks like it's dropping in the second half.

第二季的成長勢頭良好，但如果我們看一下年度指引，下半年的成長似乎會有所下降。

Can you just talk about the reason that is happening?

能簡單談談發生這種情況的原因嗎？

Sure, Chris.

當然，克里斯。

This is Stacy.

這是史黛西。

I'd be happy to.

我很樂意。

I'll do the walk from Q1 to Q2 and then I'll give you a sense of what I see in terms of the pluses and minuses as we move into the back half of the year.

我將從第一季到第二季進行介紹，然後我將向您介紹我在進入下半年時所看到的優點和缺點。

As we go into the second quarter -- so, we ended Q1 at 60%, we're forecasting Q2 at 63%.

當我們進入第二季時，我們第一季末的成長率為 60%，我們預測第二季的成長率為 63%。

The big driver there is we get about 2.5 points of good news associated with the fall off of 14-nanometer start up costs/ So, it's pretty consistent with what we've been talking about and what you've seen from us in the past.

最大的推動因素是我們得到了大約 2.5 個與 14 奈米啟動成本下降相關的好消息/因此，這與我們一直在談論的內容以及您過去從我們那裡看到的內容非常一致。

We'll get a little bit more good news associated with Q2 being a bit up in terms of volume.

我們將得到更多與第二季銷量上升相關的好消息。

So, that's about 0.5 points.

所以，大約是0.5分。

And then we get 0.5 points in Q2 associated with lower platform write-offs as we qualify those first 14-nanometer products towards the end of the quarter.

然後，當我們在本季末對首批 14 奈米產品進行資格認證時，我們在第二季度獲得了 0.5 分，與較低的平台沖銷相關。

And then there's a bit of an offset as we ramp tablets and we start to see some of the associated contra revenue dollars with tablets.

然後，當我們推出平板電腦時，會出現一些抵消，我們開始看到一些與平板電腦相關的對沖收入。

We saw some of that in Q1 but we'll see a bit more in Q2.

我們在第一季看到了其中一些，但我們會在第二季度看到更多。

That's about 0.5 points offset.

大約有 0.5 個點的偏移。

So, that gets us to 63% for Q2.

因此，第二季的成功率為 63%。

And then, yes, the math, if you triangulate a 61% for the year, would say that we have a gross margin in the back half of the year that's in the low 60%s.

然後，是的，數學上，如果你對今年的 61% 進行三角測量，就會說我們今年下半年的毛利率處於 60% 的低水平。

I think the plus that we see going in is we expect seasonally stronger volume in the back half, so that gives us a little bit of a plus.

我認為我們看到的好處是我們預計後半段的季節性交易量會更強，所以這給了我們一點好處。

On the minus side it's two things.

從負面來看，有兩件事。

One, the tablet volume is back-end loaded for us.

第一，平板電腦捲是為我們後端加載的。

Again, as you'd expect, it's primarily a consumer product.

同樣，正如您所期望的，它主要是一種消費品。

So we'll see in the back half of the year the ramp of tablets and the associated contra revenue dollars, so that's a bit of an offset.

因此，我們將在今年下半年看到平板電腦和相關收入的成長，因此這有點抵消。

And then we'll also see costs coming down from Q1, Q2 to Q3.

然後我們還將看到成本從第一季、第二季到第三季下降。

And then in Q4 we'll see a lot of volume coming out of multiple factories on 14-nanometer.

然後在第四季度，我們將看到多家工廠生產 14 奈米製程的大量產品。

And, so, you get a bit of a mix up in cost from those early wafers coming off of 14-nanometer.

因此，早期 14 奈米晶圓的成本會有些混亂。

And, again, that's a phenomenon you've see from us in the past.

再說一遍，這是您過去在我們身上看到的現象。

We would expect that to come down pretty rapidly after that.

我們預計此後這一數字會迅速下降。

But the first quarter tends to be pretty expensive.

但第一季的價格往往相當昂貴。

Got it, thanks.

知道了謝謝。

And for my follow-up, maybe just give us your take on the PC space.

對於我的後續行動，也許只是告訴我們您對 PC 領域的看法。

Just talk about how the market's feeling now versus your expectations three months ago.

只要談談現在市場的感受與您三個月前的預期相比如何。

And then any impact from the expiration of Windows XP, either into your expectations for Q2 or with what happened in Q1?

那麼 Windows XP 的到期對您對第二季的預期或第一季發生的情況有何影響？

Sure.

當然。

I can give you an overall look at how we see the PC market.

我可以讓您全面了解我們如何看待 PC 市場。

This is Brian.

這是布萊恩。

In general, if you look at Q1, and even as we head into Q2, it's playing out as we pretty much expected.

總的來說，如果你看看第一季度，即使我們進入第二季度，它的表現幾乎符合我們的預期。

We continue to see strength in the enterprise.

我們繼續看到企業的實力。

And that's pretty much across the board everywhere.

幾乎所有地方都是如此。

Consumer still remains a bit weak for us.

消費者對我們來說仍然有點疲軟。

Emerging markets starting to strengthen a little bit in the consumer but the rest of the world still showing some weakness at the consumer level.

新興市場的消費者開始略有加強，但世界其他地區的消費者仍然表現出一些疲軟。

We think what's driving the overall stabilization is a series of things that started to play out in Q4, and we see them playing out into Q1 and, we think, throughout this year.

我們認為推動整體穩定的因素是第四季度開始發揮作用的一系列因素，我們認為它們會持續到第一季度，我們認為會貫穿今年。

It is a mixture of things from, yes, there is Windows XP.

它是各種東西的混合體，是的，有 Windows XP。

It is a part of this equation but I don't think it's the driver.

它是這個方程式的一部分，但我不認為它是驅動因素。

If you look at the form factors that we're bringing out, the price points that we've been able to enter, you're seeing strong PCs down in the $200 range now.

如果你看看我們推出的外形尺寸和我們已經能夠進入的價格點，你會發現現在強大的 PC 價格在 200 美元範圍內。

Haswell really coming to market as we enter into Q1 and Q2.

當我們進入第一季和第二季時，Haswell 才真正上市。

You saw the 130 Atom designs that we have out there.

您已經看到了我們現有的 130 個 Atom 設計。

So it's a series of real vectors that are driving the stabilization, we believe.

因此，我們相信，是一系列實數向量推動了穩定性。

Thanks, Chris.

謝謝，克里斯。

Jim Covello from Goldman Sachs.

來自高盛的吉姆·科維羅。

Great, guys, thanks so much.

太好了，夥計們，非常感謝。

Just one point of clarification first.

首先澄清一點。

The segment, the year-over-year segment numbers, is that apples-to-apples or does that include this year's reclassification but it's versus last year's old reclassification?

該細分市場、同比細分市場的數字，是同類的還是包括今年的重新分類，但它是與去年的舊重新分類相比？

No, no, it's apples-to-apples, Jim.

不，不，這是同類的事，吉姆。

Everything got restated.

一切都被重述了。

Great, terrific, thank you.

太好了，太棒了，謝謝。

In terms of the contra revenue support going forward for the tablets, can you talk about the pushes and pulls as we maybe go into 2015, or whatever period you want to talk about going forward, about what would cause you to continue to do that versus maybe cutting that off?

就平板電腦未來的收入支持而言，您能否談談我們可能進入 2015 年時的推動和拉動，或者您想談論未來的任何時期，以及什麼會導致您繼續這樣做，而不是也許把它剪掉？

That will obviously be a critical part of our model as we start to look forward into next year.

當我們開始展望明年時，這顯然將成為我們模型的關鍵部分。

Yes, I'll be happy to, Jim.

是的，我很樂意，吉姆。

Let me even back up and give you, again restate the strategy of what we're doing here.

讓我再次重申我們在這裡所做的事情的策略。

And Brian can come in over the top with some of the technology.

布萊恩可以憑藉一些技術脫穎而出。

But what we're doing is we're taking Bay Trail, which is a product really designed for the PC market, and we made the decision to take it broadly across different segments of the tablet market this year.

但我們正在做的是Bay Trail，這是一款真正為個人電腦市場設計的產品，我們決定今年將其廣泛應用於平板電腦市場的不同領域。

It brings along with it, at least over the course of 2014, a higher bill of materials.

至少在 2014 年期間，它帶來了更高的物料清單。

And that's independent from the SOC cost.

這與 SOC 成本無關。

It's the power management subsystem, it's the motherboard that it goes on, it's the memory solution, those kinds of things.

它是電源管理子系統，它是它所運行的主機板，它是記憶體解決方案，諸如此類的東西。

And so, we're providing some contra revenue to offset that bill of material delta over the course of 2014.

因此，我們將提供一些備抵收入來抵銷 2014 年的物料清單增量。

Now, as we said, we're doing value engineering with our customers and our partners.

現在，正如我們所說，我們正在與客戶和合作夥伴進行價值工程。

And so we're bringing down that bill of material over the course of 2014 independent of any changes to our SOC.

因此，我們將在 2014 年期間減少該物料清單，而與 SOC 的任何變化無關。

I'll pause there and actually let Brian if he wants to come in over on the top on any of the technology.

我會在那裡暫停，如果布萊恩想在任何一項技術上佔據領先地位，我都會讓他這麼做。

I think Stacy's absolutely got it right.

我認為史黛西完全正確。

We have a series of improvements.

我們有一系列的改進。

They have already started to kick in, in some cases, around our power management systems, the number of layers in our motherboards, the memory system integration.

在某些情況下，它們已經開始圍繞我們的電源管理系統、主機板的層數、記憶體系統整合發揮作用。

All of those things we've worked on and actually have started to see the advantages already in our costs.

我們所做的所有這些事情實際上已經開始看到我們的成本優勢。

So, I think on a dollars per unit, it comes down pretty dramatically over the course of 2014.

因此，我認為以每單位美元計算，2014 年期間價格大幅下降。

And it should be relatively small, if at all, as we get into 2015.

當我們進入 2015 年時，如果有的話，這個數字應該相對較小。

And it's, again, the enablement we're doing around the bill of materials.

這也是我們圍繞物料清單所做的支持。

And then we also have new products coming into the marketplace, like SoFIA, that's targeted at the low end, and then in 2015 you'll see Broxton, which is an SOC more for the mid range to high range of the market coming into our product portfolio.

然後我們還有新產品進入市場，例如 SoFIA，它是針對低端市場的，然後在 2015 年你會看到 Broxton，這是一個更適合中高端市場的 SOC 進入我們的市場。

So, the combination of all of that gives us a better cost structure with our own products and a better cost structure overall with the bill of materials as we enter 2015 and then work through 2015.

因此，當我們進入 2015 年並持續到 2015 年時，所有這些因素的組合為我們提供了我們自己的產品更好的成本結構以及物料清單的更好的整體成本結構。

Terrific.

了不起。

Thanks so much.

非常感謝。

Good luck.

祝你好運。

Ambrish Srivastava.

安布里什·斯里瓦斯塔瓦。

Hi, thank you.

嗨，謝謝你。

I had a question on DCG, Stacy, just to make sure it's apples to apples.

我有一個關於 DCG 的問題，史黛西，只是為了確保它是同類的。

The guidance that you provided for this year for the long term CAGR, does that change now that you have a common infrastructure part also within that group?

你們今年為長期複合年增長率提供的指導，現在你們在該集團內也有一個共同的基礎設施部分，這種情況是否會改變？

Interesting what we're doing here, Ambrish, is we're actually now restating the segment to match how we've been talking about this segment.

Ambrish，我們在這裡所做的有趣的事情是，我們現在實際上正在重述該片段，以符合我們一直在談論該片段的方式。

If you go back to the investor meeting presentations over the last couple of years, we've included the communications infrastructure piece of that because we do view it as part of the server market.

如果您回顧過去幾年的投資者會議演示，我們已經將通訊基礎設施部分包括在內，因為我們確實將其視為伺服器市場的一部分。

So you can either go back to Kirk's original presentation, I think it was two years ago, 2011, and you'll see it's clearly laid out in that long-term CAGR.

所以你可以回到柯克最初的演講，我認為那是兩年前，2011 年，你會看到它在長期複合​​年增長率中得到了清晰的闡述。

Brian and Renee have now organized the Company more in line with that, so we have all of that under one group.

Brian 和 Renee 現在已經按照這一點組織了公司，所以我們將所有這些都歸入一個團隊。

So, we've redone our segments as a result.

因此，我們重新設計了我們的部分。

I'll also say for Q1, because I don't think you can see this anywhere else, but the DCG year-on-year growth rate was 11% in the restated segments.

我也會說第一季度，因為我認為你在其他地方看不到這一點，但在重述的細分市場中，DCG 年成長率為 11%。

If you took out the CID piece, so if we had not made that change, it still would have been 10%-plus.

如果你去掉 CID 部分，那麼如果我們沒有做出這個改變，它仍然會超過 10%。

So it's worth about 1 point of growth in Q1.

因此，第一季的成長約為 1 個百分點。

So, I think we're pleased with the growth rate with and without, I guess is how I'd say it.

所以，我認為我們對有或沒有的成長率感到滿意，我想這就是我所說的。

Okay, that is helpful, because, you're right, at the last analyst day, also, you did have that piece in there when it was not part of DCG.

好的，這很有幫助，因為，你是對的，在最後一個分析師日，你確實有那部分，當時它不是 DCG 的一部分。

My follow-up, then, is a quicker one.

那麼，我的後續行動會更快。

On the MCG side, are we looking at this revenue run rate bottoming out here, because now you're going into the back half, you also talk about Cat 6 shipments?

在 MCG 方面，我們是否正在考慮收入運行率是否觸底，因為現在您正進入後半段，您還談論 Cat 6 出貨量？

I think, Brian, you were at IDF or somewhere in Shanghai or in China.

我想，布萊恩，你當時在以色列國防軍或上海或中國的某個地方。

So, is this the bottom for this segment in the quarter?

那麼，這是本季該細分市場的底部嗎？

Thank you.

謝謝。

I think you'll see two phenomenons as we move into the back half.

我想當我們進入後半場時你會看到兩個現象。

As we said, we're seeing on the com side that transition from 2G/3G.

正如我們所說，我們在 com 方面看到了從 2G/3G 的過渡。

So, we're seeing a troughing of that business.

因此，我們看到該業務正在陷入低谷。

And as we move into the back half we'll see the LTE, particularly the 7260, coming to market so we'll start to see, I think, a nice ramp in revenue on that segment.

當我們進入下半年時，我們將看到 LTE，特別是 7260，進入市場，因此我認為，我們將開始看到該細分市場的收入大幅增長。

We'll have significant unit growth in tablets.

我們的平板電腦銷量將大幅成長。

But remember that contra revenue isn't just a gross margin impact.

但請記住，對銷收入不僅影響毛利率。

It's actually a subtraction from revenue and so that will mute the revenue growth for the segment because you have that negative as we get into the back half and ship more tablets.

這實際上是從收入中減去的，因此這將削弱該細分市場的收入成長，因為當我們進入後半部分並運送更多平板電腦時，就會出現負面影響。

To the prior question, I expect that to abated as we get into 2015 but you'll definitely see that in the back half of 2014.

對於前一個問題，我預計隨著 2015 年的到來，這種情況將會減弱，但在 2014 年下半年你肯定會看到這種情況。

Christopher Rolland from FBR.

來自 FBR 的克里斯多福羅蘭。

Hi, guys, thanks for faking the question.

嗨，夥計們，謝謝你提出這個問題。

I think a lot of us were surprised to see Q1 notebook platforms up year over year, as you guys alluded to.

正如你們所提到的，我想我們很多人都驚訝地看到第一季筆記型電腦平台年成長。

Why is third-party data off year, perhaps even ODM data, off so much?

為什麼第三方數據（甚至 ODM 數據）今年的數據偏差如此之大？

I imagine some of that's market share but what might be the rest there?

我想像其中一部分是市場份額，但剩下的可能是什麼？

Let me give you the wonky finances and then I'll turn it over to Brian to talk about our notebook strategy and how that's playing out across the products.

讓我向您介紹一下不穩定的財務狀況，然後我會將其轉交給布萊恩，讓他談論我們的筆記型電腦策略以及該策略在所有產品中的實施情況。

From a year-on-year comparison, from our billings standpoint you have to remember that Q1 of 2013, there was a big contraction in the worldwide supply chain terms of inventory levels.

從同比比較來看，從我們的帳單角度來看，您必須記住，2013 年第一季度，全球供應鏈的庫存水準出現了大幅收縮。

And I think that impacted our billings.

我認為這影響了我們的帳單。

So, we're, I think, getting the advantage of a good year-on-year comparison point there.

因此，我認為我們正在利用良好的同比比較點的優勢。

We still expect for the year that units are down in the low single digits.

我們仍然預計今年的單位數量將下降到較低的個位數。

And, by the way, we would love to be wrong on that but that's our view of the market.

順便說一句，我們希望在這一點上犯錯，但這就是我們對市場的看法。

And I think that's pretty aligned with the third parties.

我認為這與第三方非常一致。

Yes, I would agree with that.

是的，我同意這一點。

And that's not to say that inventories have grown.

這並不是說庫存增加了。

Actually inventories are in very good shape as we look across the entire supply chain, both within Intel and outside.

實際上，當我們縱觀英特爾內部和外部的整個供應鏈時，庫存狀況非常好。

So we think inventories, after that correction in the beginning of 2013, are actually normalized now where they will probably stay

因此，我們認為，在 2013 年初的調整之後，庫存實際上已經正常化，可能會保持在這個水平

And as Stacy said, and as we said in the call, you're seeing us in all price points in this space.

正如史黛西所說，正如我們在電話中所說，您會看到我們在這個領域的所有價位。

So, you're seeing Bay Trail and even core products down at lower price points.

因此，您會看到 Bay Trail 甚至核心產品的價格都在下降。

You'll also see us gaining market share in Chrome over this time period.

您還將看到我們在此期間獲得 Chrome 的市場份額。

We're in a significant percentage of the Chrome systems out there.

我們在 Chrome 系統中佔很大比例。

So there's a variety of things that are allowing us to get some upswing a bit in the mobile market, as well.

因此，有許多因素也讓我們在行動市場上取得了一些進展。

Great, thank you.

太好了謝謝。

As a follow-up, at one point there was Bay Trail T, M, and D for tablet, mobile and desktop.

作為後續產品，一度推出了適用於平板電腦、行動裝置和桌面裝置的 Bay Trail T、M 和 D。

Is the M and D still accounted for in PC, and T in tablet?

PC中是否仍佔M和D，平板中仍佔T？

And with that 8% ASP decline that you guys had in mobile, was that natural or is that a mix-in of Bay Trail M?

移動領域的平均售價下降了 8%，這是自然現象還是 Bay Trail M 的混合體？

Thanks.

謝謝。

Yes, great question.

是的，很好的問題。

The first answer is yes, the M and D would be included in PCCG's results.

第一個答案是肯定的，M 和 D 將包含在 PCCG 的結果中。

The T is included in MCG's results and would be in the tablet volume that we're talking about.

T 包含在 MCG 的結果中，並且會包含在我們正在討論的平板電腦磁碟區中。

And, yes, the notebook ASP that you saw was exactly consistent with our strategy.

是的，您看到的筆記本 ASP 與我們的策略完全一致。

We're bringing Bay Trail in there.

我們要把 Bay Trail 引進那裡。

Its got the right cost structure.

它有正確的成本結構。

It's actually the volume is a little ahead of what we thought in Q1.

實際上，成交量比我們在第一季的預期要提前一些。

It's enabling us to grow units a bit and maintain and grow profitability.

它使我們能夠稍微增加單位數量並保持和提高盈利能力。

And the overall Company's gross margin looked pretty good, too.

公司的整體毛利率看起來也相當不錯。

Doug Freedman from RBC.

來自加拿大皇家銀行的道格‧弗里德曼。

Thanks for taking my question, guys.

謝謝你們提出我的問題，夥伴們。

A few of the things that you've guided to we've really never seen in the history of Intel, and that being OpEx dropping rather materially in the back half of the year.

您指導的一些事情我們在英特爾歷史上確實從未見過，那就是營運支出在今年下半年大幅下降。

Can you give us a little bit of color on what you're doing to make that happen?

您能為我們介紹一下您為實現這一目標所做的努力嗎？

Yes.

是的。

As we said at quarter a go we're bringing employment down over the course of the year.

正如我們每個季度所說的那樣，我們將在一年中減少就業人數。

In particular, we're driving for some efficiencies in the engineering organization.

特別是，我們正在努力提高工程組織的效率。

They're happening a little later than we thought.

它們發生的時間比我們想像的要晚一點。

But what Brian and Renee are driving for is to get more output and more products and more derivatives for the engineering teams.

但 Brian 和 Renee 所追求的是為工程團隊獲得更多產出、更多產品和更多衍生性商品。

And that will result in some efficiency as we get into the back half.

當我們進入後半場時，這將帶來一些效率。

And for my follow-up, also another spending question, that being on the CapEx.

對於我的後續行動，還有另一個支出問題，就是資本支出。

I believe there was a change to the longer-term road map on your move to get to 450 and yet we're not seeing really any change on your CapEx spending.

我相信您達到 450 的長期路線圖發生了變化，但我們並沒有看到您的資本支出有任何變化。

Is there a change that we should be thinking is possible in the future?

我們應該認為未來可能會改變嗎？

How would you talk about your CapEx?

您如何談論您的資本支出？

In the past you talked about maintenance and then the other.

過去你講維護，然後講其他。

If you could give us an update on that.

如果您能為我們提供最新情況。

The 450, let's start with that.

450，讓我們從它開始。

We haven't changed.

我們沒有改變。

We've said that actually our 450 is similar in the latter half of this decade, right?

我們說過，實際上我們的 450 在這十年的後半段是相似的，對吧？

So we're still saying that.

所以我們還是這麼說。

You're going to see gives and takes on 450 spending.

您將看到 450 筆支出的給予和接受。

These are long, drawn-out programs over multiple years.

這些都是長期的、持續多年的計劃。

And so I think don't grade the whole program by one shift in when we buy a tool or when we move out some spending, in some cases.

因此，我認為，在某些情況下，當我們購買工具或轉移一些支出時，不要透過一次轉變來對整個計劃進行評分。

And don't forget, any time we do that you typically have just more 300-millimeter that you're going to go spend money on.

並且不要忘記，每當我們這樣做時，您通常都會多花 300 毫米的錢。

We continue to hold our forecast flat for CapEx.

我們繼續維持資本支出預測不變。

We are comfortable with the CapEx where we're at to maintain our business based on the demand we're seeing for our core products.

我們對資本支出感到滿意，我們可以根據我們對核心產品的需求來維持我們的業務。

Great.

偉大的。

Thanks for taking my questions.

感謝您回答我的問題。

John Pitzer from Credit Suisse.

瑞士信貸銀行的約翰‧皮策 (John Pitzer)。

Good afternoon, guys.

下午好，夥計們。

Congratulations.

恭喜。

Stacy, a question on gross margins.

史黛西，一個關於毛利率的問題。

Has the full year expected impact for tablets changed at all?

平板電腦的全年預期影響是否發生了變化？

And if memory serves me correct, that was 150 basis points.

如果我沒記錯的話，那就是 150 個基點。

And if I do the math right, would that alone account for about 2.5 percentage points of decline in Q3, Q4?

如果我算得對的話，僅此一項就能導致第三季、第四季下降約 2.5 個百分點嗎？

Am I doing that correctly?

我這樣做正確嗎？

The answer to your first question is that our expectations haven't changed.

你的第一個問題的答案是我們的期望沒有改變。

The second decimal may have changed but directionally it's the same.

第二位小數可能已經改變，但方向是相同的。

And as Brian said in his prepared remarks, we're actually feeling pretty good about the line of sight we have across the customers, the longer term agreements we have in place, and design wins that we know are coming to market, as well as the Q1 volume.

正如布萊恩在他準備好的演講中所說，我們實際上對我們在客戶中的視線、我們已經制定的長期協議以及我們知道即將進入市場的設計成果感到非常滿意，以及第一季的成交量。

In terms of the impact in the second half, I haven't done the math that way, but just to manage your math, you're probably not too far off because it's 150 basis points more or less for the year, and it's back-end loaded so it's going to be in that kind of a range.

就下半年的影響而言，我沒有這樣算過，但只是為了管理你的數學，你可能不會太遠，因為今年或多或少有 150 個基點，而且它又回來了-end 已加載，因此它將處於該範圍內。

I did do the math for the back half saying that, as well as the Q4 cost of 14-nanometer out of multiple factories, is the thing that keeps us in the low 60s as opposed to higher.

我確實對後半部分進行了計算，說除了多家工廠生產 14 奈米的第四季度成本之外，也是我們保持在 60 左右而不是更高的原因。

So I think your math probably is pretty close.

所以我認為你的數學可能非常接近。

Perfect.

完美的。

Thanks, guys.

多謝你們。

And as my follow on, Brian, you talk a little bit about the expectations around the Grantley product launch?

接下來，布萊恩，您談談對 Grantley 產品發布的期望嗎？

Nehalem clearly drove good growth in DCG.

Nehalem 顯然推動了 DCG 的良好成長。

Romley was a little more mixed.

羅姆利的心情有點複雜。

What's the expectation for Grantley?

對格蘭特利的期望是什麼？

And is there a concern of a pause of buying in DCG ahead of the launch?

是否擔心 DCG 在推出之前暫停購買？

And how do you manage that?

你如何做到這一點？

We look at the Grantley as a great product.

我們認為 Grantley 是一款出色的產品。

I don't think there will be a pause.

我認為不會有暫停。

We've factored that into all of our forecasts, the launch dates.

我們已將這一點納入我們所有的預測和發布日期中。

Those haven't moved.

那些還沒動。

I don't see it as being a shift.

我不認為這是一種轉變。

Customers typically line up their products around our product launches, and they have several months to work around those and forecast there's, as well.

客戶通常會圍繞我們的產品發布來排列他們的產品，他們有幾個月的時間來處理這些問題並進行預測。

So, I don't see a stall in our business based on what we see with the forecasts right now.

因此，根據我們目前的預測，我認為我們的業務不會陷入停滯。

Perfect.

完美的。

Thanks, guys.

多謝你們。

CJ Muse from ISI Group.

ISI 集團的 CJ Muse。

Good evening.

晚安.

Thank you for taking my question.

感謝您回答我的問題。

First question, since you announced a vision for being a larger foundry at your analyst day, I'm curious what you've learned in your discussion with potential clients in terms of what may be bigger opportunities than what you initially thought, and perhaps what could be bigger challenges?

第一個問題，自從您在分析師日宣布了成為更大的代工廠的願景以來，我很好奇您在與潛在客戶的討論中學到了什麼，哪些機會可能比您最初想像的更大，也許還有哪些可能是更大的挑戰？

And as part of that, as you think about offering those foundry services to potential customers, how do you think about maybe some of the changes you need to do in terms of tool sets with Fab 42?

作為其中的一部分，當您考慮向潛在客戶提供這些代工服務時，您如何考慮在 Fab 42 的工具集方面可能需要進行的一些變更？

Let's answer the first part first.

我們先來回答第一部分。

I'd say the interest since we opened up the foundry has been high.

我想說，自從我們開設鑄造廠以來，人們的興趣一直很高。

These interactions, just getting people comfortable with what the technology is, take several months typically.

這些互動，只是讓人們熟悉這項技術，通常需要幾個月的時間。

There's deep interaction between the technical teams on both sides, really understanding what the process of silicon technology incorporates, what the design tools are, what IP we have to offer, where they can go get third-party IP, all of those kinds of interactions.

雙方技術團隊之間有深入的互動，真正了解矽技術的工藝包含什麼，設計工具是什麼，我們必須提供什麼IP，他們可以從哪裡獲得第三方IP，所有這些互動。

Those have been ongoing with many customers.

許多客戶一直在進行這些活動。

And then, you start the business discussions around pricing and availability and all of that.

然後，您開始圍繞定價和可用性等進行業務討論。

So I'd tell you that the uptake has been strong.

所以我想告訴你，人們的接受度一直都很高。

We've been in many interactions.

我們有很多互動。

As far as what does it tell us about what needs to change within Intel, I think we still have a lot to learn about how to be a good foundry.

至於它告訴我們英特爾內部需要做出哪些改變，我認為關於如何成為一家優秀的代工廠，我們還有很多東西要學習。

Altera, who is really our lead premier customer, I'd say, big customer, has really been helpful.

Altera 確實是我們的主要客戶，我想說，大客戶，他真的很有幫助。

They've helped us see where we're strong and where we are not, and what it takes to become strong in those areas.

他們幫助我們了解自己在哪些方面有優勢，哪些方面不夠，以及如何在這些領域變得強大。

They are making good progress on their products.

他們的產品取得了良好的進展。

I don't think there's a lot of change from a technology standpoint that's outside the changes we're going to make, say, at 10-nanometers of our own product.

我認為從技術角度來看，除了我們將要做出的改變（例如我們自己的產品的 10 奈米）之外，不會有太多變化。

We're driving to lower power, more mobility, able to integrate better, all of those things, into our own products.

我們正在努力降低功耗、提高行動性，並能夠將所有這些東西更好地整合到我們自己的產品中。

Integration of memory capabilities.

整合記憶功能。

That's driven by our own need to move into those mobile spaces.

這是由我們自己進入這些移動空間的需求所驅動的。

And that's helping us with the same road maps that are being required by the foundry partners.

這幫助我們制定了代工夥伴所要求的相同路線圖。

Fab 42 is purely a capacity-driven based on demand.

Fab 42純粹是基於需求的產能驅動。

We'll trigger that as we trigger demand both either internally or from the foundry.

當我們觸發內部或代工廠的需求時，我們將觸發這一點。

Remember, though, the foundry partners signed up today.

但請記住，代工夥伴今天已經簽約。

It's probably two years -- 18 to 24 months -- before first silicon, and probably 30 to 36 months before they really have ramped to any volume.

距離首次投產可能需要兩年（18 至 24 個月），並且可能需要 30 至 36 個月才能真正達到任何銷售量。

And Fab 42 is probably 12 to 18 months from when you would be able to bring it into capacity.

Fab 42 可能需要 12 到 18 個月才能投入使用。

So the two have a great deal of overlap.

所以兩者有很大的重疊。

And I would just add, just reading into your question -- maybe I'm reading too much, CJ -- if you're viewing the foundry business as we would have a specific foundry factory, that's probably not the case.

我想補充一點，只是閱讀你的問題——也許我讀得太多了，CJ——如果你以我們擁有特定的鑄造工廠的方式看待鑄造業務，情況可能並非如此。

These will be run side by side with our own products and taking advantage of the same technology and technology features that we need for our product line.

這些將與我們自己的產品並行運行，並利用我們產品線所需的相同技術和技術功能。

Very helpful.

很有幫助。

If I could sneak in a second one here.

如果我能在這裡偷偷溜進第二個就好了。

In terms of integrated LTE, you've talked about when we'll first see that.

在整合 LTE 方面，您談到了我們何時會首次看到它。

But curious when you expect to bring that in house at Intel.

但當你希望將其引入英特爾內部時，你會感到好奇。

We'll bring that in on our 14-nanometer process either late 2015 or early 2016.

我們將在 2015 年底或 2016 年初將其引入我們的 14 奈米製程。

We're still battling back and forth on how fast we can bring it in and at what impacts that has.

我們仍在爭論我們能以多快的速度引入它以及它會產生什麼影響。

14-nanometer is the technology there.

14奈米是那裡的技術。

Great, thank you.

太好了謝謝。

Blaine Curtis from Barclays.

來自巴克萊銀行的布萊恩柯蒂斯。

Good afternoon, guys.

下午好，夥計們。

Thanks for taking my question.

感謝您提出我的問題。

Maybe actually follows up on CJ's prior question.

也許實際上是在跟進 CJ 之前的問題。

The [MPG] business that you're now breaking out, it's pretty clear it's losing $3 billion, $3.5 billion.

你們現在正在進行的 [MPG] 業務，很明顯它正在損失 30 億美元、35 億美元。

How do you think about this business?

您如何看待這項業務？

Obviously you're trying to ramp the product set.

顯然，您正試圖擴大產品範圍。

You are a bit behind You're entering from the low end and that pricing seems quite tough.

你有點落後了你是從低端進入的，而且定價似乎相當艱難。

You're facing some subsidies that you have to do on the tablet side.

您面臨著一些必須在平板電腦方面進行的補貼。

Are there some milestones that you look at to get this business back profitable?

您是否考慮過一些里程碑來讓該業務恢復盈利？

Or maybe would you consider this strategic enough that you would consider continuing to run this as a loss?

或者，也許您會認為這項策略足夠具有戰略意義，以至於您會考慮繼續虧損經營？

You asked several questions in there, so let me start to pars it apart.

你在那裡問了幾個問題，所以讓我開始解析它。

Absolutely this is a strategic business, so let's just start with that.

這絕對是一項策略性業務，所以我們就從這個開始吧。

We think this is critical and we said this in our prepared statements.

我們認為這一點至關重要，我們在準備好的聲明中也說過這一點。

It's critical from two-in-one devices down through the Internet of Things.

從二合一設備一直到物聯網，它都至關重要。

You look across the connectivity requirements there, more and more of the devices are requiring integrated connectivity, whether it be LTE, 3G, Wi-Fi, Bluetooth.

縱觀連接要求，越來越多的設備需要整合連接，無論是 LTE、3G、Wi-Fi、藍牙。

And all of these connectivities are becoming more and more required.

所有這些連接性的需求都變得越來越大。

We don't go into these businesses thinking that we're going to lose money.

我們進入這些業務時不會認為自己會賠錢。

We believe we have a road map to get to profitability in that business.

我們相信我們有一個實現該業務盈利的路線圖。

The milestones that I look at, and so I'll give you those for yourself to look at, we have the 7160, the current LTE version out there.

我關注的里程碑，所以我會給你那些你自己看的，我們有 7160，目前的 LTE 版本。

We're the second in LTE.

我們在 LTE 領域排名第二。

We have the 7260 launch this quarter.

我們本季推出了 7260。

I think that's a critical there.

我認為這是關鍵。

Again, we're closing the gap with our competition.

我們再次縮小了與競爭對手的差距。

We're bringing out leading edge Cat 6 capability with carrier aggregation.

我們正在透過載波聚合推出領先的 Cat 6 功能。

That's a critical milestone.

這是一個重要的里程碑。

That closes the gap and puts us firmly in the LTE capability.

這縮小了差距，讓我們牢牢掌握 LTE 能力。

The next one is SoFIA.

下一個是SoFIA。

If you look at the SoFIAs at the end of this year with 3G integration, and then a big first half of next year with LTE integration.

如果你看看今年年底的 SoFIA 與 3G 集成，然後是明年上半年的 LTE 集成。

Remember, those products weren't even on our road map six or seven months ago.

請記住，六、七個月前這些產品甚至還沒有出現在我們的路線圖上。

So, that shows that we are acting quickly integrating and bringing those products to production.

因此，這表明我們正在迅速整合這些產品並將其投入生產。

Then after that is, as Stacy said earlier, Broxton, which is our internal 14-nanometer product.

然後，正如 Stacy 之前所說，Broxton，這是我們內部的 14 奈米產品。

That's targeted towards the mid to high level.

這是針對中高級程度的。

And as we bring that into the second half of 2015 and into 2016, there will be various levels of integration on that.

當我們將其帶入 2015 年下半年和 2016 年時，將會有不同程度的整合。

So, when I look across this, those are the milestones I look at, because those are what drive that, along with just the basic cost reduction capabilities we talked about for this year as we get out of this contra revenue into 2015.

因此，當我審視這一點時，這些就是我所關注的里程碑，因為這些是推動這一目標的動力，同時我們在 2015 年擺脫這一對沖收入時還討論了今年的基本成本削減能力。

Those products then place us firmly in leadership capability from the low end to the high end with integration.

這些產品使我們在從低端到高端的整合領域中牢牢處於領先地位。

And those are the milestones to me that will lead to profitability long term.

這些對我來說是里程碑，將帶來長期獲利。

And I'll just add to that, I think you left it off because it was so obvious, but the 40 million tablets is one of the things I see Brian just laser focused on.

我想補充一點，我想你沒有提到它，因為它太明顯了，但 4000 萬台平板電腦是我看到 Brian 重點關注的事情之一。

And as we've talked about before, it gets us into the 15% to 20% range of the total tablet market.

正如我們之前討論過的，它讓我們佔據了整個平板電腦市場的 15% 到 20% 的份額。

It gives us a big enough footprint that we start to see people developing on our architectures.

它為我們提供了足夠大的足跡，我們開始看到人們在我們的架構上進行開發。

It becomes a self-sustaining ecosystem as we're bringing these other products to the marketplace.

當我們將這些其他產品推向市場時，它成為一個自我維持的生態系統。

So don't lose sight of that one, Blaine.

所以不要忽視那個，布萊恩。

Thanks.

謝謝。

Then just as a second question, in terms of Broadwell timing you had the one quarter slip.

然後，就像第二個問題一樣，就布羅德韋爾計時而言，您出現了四分之一的下滑。

It seems like no change so far.

到目前為止似乎沒有任何變化。

Are there any more hurdles in terms of yields or anything before this product is ready to ship in the back half?

在該產品準備下半年出貨之前，在產量或其他方面是否還有更多障礙？

As we said, we qualified for start up production this month.

正如我們所說，我們本月有資格啟動生產。

We will qualify for shipment to customers towards the end of this quarter.

我們將有資格在本季末向客戶發貨。

Those are the first two milestones, so we've passed one of them.

這是前兩個里程碑，所以我們已經通過了其中一個。

And then you'll start to see our customers bring products to market as we progress into the second half of this year.

然後，隨著今年下半年的進展，您將開始看到我們的客戶將產品推向市場。

These things are hard.

這些事情很難。

There are always yield improvement efforts that we have, and cost deductions that we're going through.

我們一直在努力提高產量，並降低成本。

But I think we're past the first of the two big milestones by turning on the production internal.

但我認為，透過啟動內部生產，我們已經跨越了兩個重大里程碑中的第一個。

And we have the next big one at the end of this quarter with certifying to ship to customers.

我們將在本季末推出下一個重大項目，並認證向客戶出貨。

We don't see any roadblocks, don't see any issues.

我們沒有看到任何障礙，沒有看到任何問題。

But that's still out there at the end of this quarter.

但到本季末，這種情況仍然存在。

Great, thanks.

萬分感謝。

Stacy Rasgon from Sanford Bernstein.

桑福德·伯恩斯坦的史黛西·拉斯岡。

Hi, guys.

嗨，大家好。

Thanks for taking my question.

感謝您提出我的問題。

For my first one, I wanted to dig a little bit into the mobile and wireless group.

對於我的第一個，我想深入了解移動和無線組。

So, you've talked a bit about developing leadership products, leadership position in order to drive profitability.

因此，您談到了開發領先產品、領導地位以提高獲利能力。

We're looking at this right now, though.

不過，我們現在正在考慮這個問題。

So, we had the business fall more than 50% sequentially.

因此，我們的業務比上一季下降了 50% 以上。

You have your 7160 which is shipping but apparently it's not really driving much volume.

您的 7160 正在發貨，但顯然它並沒有真正帶動銷量。

We have the 7260 which is forthcoming but we really haven't heard much about design wins.

我們有即將推出的 7260，但我們確實沒有聽到太多有關設計勝利的消息。

And you launched at Mobile World Congress without really saying very much there.

您在世界行動通訊大會上推出這項產品時並沒有說太多。

We have SoFIA coming, which absolutely is integrated but it's being made at TSMC for the next few years which means you lose any potential benefits from your own process technology.

我們即將推出 SoFIA，它絕對是整合的，但未來幾年將在台積電生產，這意味著您將失去自己的製程技術的任何潛在優勢。

And you would seem to be well behind what the market leaders are shipping in terms of 4G.

在 4G 方面，您似乎遠遠落後於市場領導者的出貨量。

Just what should we be looking for and over what time frame should we be looking for, for the ramp?

我們應該尋找什麼以及我們應該在什麼時間範圍內尋找坡道？

What I'm asking is, how can we get confidence that we are going to actually see the revenue ramp that is built into the short-term expectations for this year and then going forward, to make sure that you can actually get a profitable business, which obviously would be driving quite a bit of upside to where the models are today?

我要問的是，我們如何才能有信心，我們將真正看到今年短期預期中的收入增長，然後繼續前進，以確保您能夠真正獲得盈利的業務，這顯然會給模型目前的水平帶來相當大的上漲空間？

Sure, Stacy.

當然，史黛西。

I'll start and then Stacy can jump in.

我先開始，然後史黛西就可以加入。

Remember, the 7160, we gave you a series of products that it's shipping in.

請記住，對於 7160，我們為您提供了一系列包含該產品的產品。

And on the 7260, which will qualify this quarter, we gave you a list of OEM partners that have committed to that platform.

對於將於本季度獲得資格的 7260，我們為您提供了致力於該平台的 OEM 合作夥伴清單。

So, we're fairly confident that the ramp in the second hall of this year will continue on that product.

因此，我們相當有信心今年第二大廳的坡道將繼續該產品。

And it is a leadership product.

這是一款領先產品。

SoFIA, you're right, is built at TSMC.

SoFIA，你是對的，是在台積電製造的。

We went for speed and integration.

我們追求速度和整合。

And it was simply quicker to get to market with a competitive product from both a price and performance.

而且，能夠更快地將具有價格和性能競爭力的產品推向市場。

We actually believe that the IA core will give us better performance than the competition.

我們實際上相信 IA 核心將為我們帶來比競爭對手更好的性能。

And the competition is at that same node at TSMC.

競爭也在台積電的同一節點進行。

And it's 3G at the end of this year and LTE in the first half of next year.

今年年底是3G，明年上半年是LTE。

We then told you that in the second half of next year -- and, again, we're debating whether it's the second half or the first quarter of 2016 -- but we'll move all of that internal on to 14-nanometers.

然後我們告訴您，明年下半年——我們再次討論是 2016 年下半年還是第一季——但我們會將所有內部技術轉移到 14 奈米。

And it's really based on other products that we have moving in at that time and just overall resources.

它實際上是基於我們當時使用的其他產品以及整體資源。

We had a lot going on -- the ramp of Broadwell, the ramp of Sky Lake in the second half of next year, plus bringing these products inside.

我們有很多事情要做——明年下半年的 Broadwell 坡道、Sky Lake 坡道，以及將這些產品帶入室內。

But I'm very confident that when you do that, plus you add in Broxton, which is targeted towards the mid to high range and, again, is integrated with leading-edge LTE.

但我非常有信心，當你這樣做時，再加上 Broxton，它針對中高端範圍，並且再次與領先的 LTE 整合。

And, don't forget, we have a road map of LTE products beyond the 7260 that continue the level of carrier aggregation and product leadership.

而且，不要忘記，我們還有 7260 之外的 LTE 產品路線圖，繼續保持載波聚合水準和產品領先地位。

We're fairly confident that we can continue to grow this business and turn it profitable over that time.

我們非常有信心能夠繼續發展這項業務並在這段時間內實現盈利。

Let me just comment on the question about the long-term profitability.

我簡單評論一下長期獲利能力的問題。

It sounds basic but it really stems from our manufacturing leadership.

這聽起來很基礎，但它確實源自於我們的製造領先地位。

If we're two years ahead of the rest of the industry, and extending it gives us the ability that, as we target our products into the right space from a power standpoint, we will have power advantage or performance advantage and a cost advantage.

如果我們領先行業其他公司兩年，並且擴展它使我們有能力，當我們從功率的角度將我們的產品定位到正確的領域時，我們將擁有功率優勢或性能優勢以及成本優勢。

That really is our strategy playing out.

這確實是我們的策略。

You're seeing the first products hitting that theme over the course of this year and into early next year.

從今年到明年初，您將看到第一批符合該主題的產品。

Bay Trail is a really good product.

Bay Trail 確實是一個非常好的產品。

For the high end of the market you'll see products coming into the market that are more targeted at the mid range and lower end of the market next year.

對於高端市場，明年您將看到更多針對中端和低端市場的產品進入市場。

But that's how the strategy plays out.

但這就是策略的實施方式。

I'd say for 2015, I would expect to see reduction in the loss.

我想說，2015 年，我預計損失會減少。

Not profitability, but a reduction in the loss will feel pretty good when we get there, and then we'll keep driving towards the long-term profitability goal.

不是獲利，而是當我們達到目標時，損失的減少會感覺非常好，然後我們將繼續朝著長期獲利目標前進。

Did you have a follow-up Stacy?

你有後續史黛西嗎？

I did.

我做到了。

I'd like to drill in a bit more.

我想再深入一點。

I'm actually into the tablet efforts now.

我現在實際上正在致力於平板電腦的工作。

So, we're obviously subsidizing.

所以，我們顯然是在補貼。

And I get the idea of reducing BOM cost in order to make up for the deficiencies with the idea being that you can drive improved product set down the road.

我的想法是降低 BOM 成本，以彌補缺陷，這樣您就可以推動產品的改進。

But at the same time, if you look at the tablet market, where it is today, you're obviously not going to be going after Apple any time soon.

但同時，如果你看看今天的平板電腦市場，你顯然不會很快就追趕蘋果。

Maybe there's a little bit of volume at Samsung.

也許三星的銷售有點大。

But if you take those guys out, 75% of what's left is systems that are $250 and below, where your competitors are shipping quad-core chips for much less than $10.

但如果你把這些人剔除，剩下的 75% 都是 250 美元及以下的系統，而你的競爭對手的四核心晶片售價遠低於 10 美元。

I'm curious to know what kind of economics and pricing you see from that market long term.

我很想知道您從長期來看該市場的經濟狀況和定價情況如何。

And the total revenue pool and profit pool that's available, even if you were to succeed at your goals, why does that make it a worthwhile effort to actually go after?

可用的總收入池和利潤池，即使您要成功實現自己的目標，為什麼這會讓您值得真正追求呢？

Or is this simply, as you said, strategic?

或者正如您所說，這只是戰略性的？

Is this an attempt to limit further penetration of tablets into the core market?

這是為了限制平板電腦進一步滲透到核心市場嗎？

I'll start and Stacy is welcome to jump in.

我先開始，歡迎史黛西加入。

You've asked a question that has multiple questions built into it.

您提出了一個包含多個問題的問題。

But let's start with, what we told you was we've got multiple OEM partners building tablets and phones on our products.

但首先，我們告訴您的是，我們有多個 OEM 合作夥伴在我們的產品上建立平板電腦和手機。

And we gave you Asus and Dell and Lenovo and Samsung on those products.

我們為您提供了華碩、戴爾、聯想和三星的這些產品。

If you look at the tablet business overall, it's broken up into a series of segments.

如果你從整體上看平板電腦業務，你會發現它分為一系列細分市場。

And, you're right, there is a large percentage of them that are $250 and below.

而且，你是對的，其中很大一部分價格為 250 美元及以下。

Products like SoFIA are specifically designed for that segment.

SoFIA 等產品專為此細分市場而設計。

And our dual core SoFIA already performs quite well against quad-core systems.

我們的雙核心 SoFIA 相對於四核心系統來說已經表現得相當好。

As we move into next year, we'll bring quad-core SoFIA-based products out, as well.

進入明年，我們還將推出基於 SoFIA 的四核產品。

So, we believe that we can stay very cost competitive and have a performance leadership.

因此，我們相信我們可以保持非常高的成本競爭力並擁有領先的績效。

Remember, Intel has two assets.

請記住，英特爾擁有兩項資產。

We have our silicon technology, but we also have our architecture.

我們有我們的矽技術，但我們也有我們的架構。

And one of the things an OEM gets when they build with Intel technology is that they can go into any OS, and they can build a single platform and move that on to Chrome, on to Android, on to Windows.

OEM 在使用英特爾技術進行建置時獲得的好處之一是，他們可以進入任何作業系統，並且可以建立單一平台並將其轉移到 Chrome、Android 和 Windows。

And that's a very unique capability that we provide to OEMs for flexibility.

這是我們為 OEM 提供靈活性的一個非常獨特的功能。

So, we believe with a product like SoFIA, as we bring that into the market next year, we can absolutely compete in those spaces and make money.

因此，我們相信，有了像 SoFIA 這樣的產品，當我們明年將其推向市場時，我們絕對可以在這些領域競爭並賺錢。

You're probably not going to make as much revenue dollars and as much margin dollars as the PC business, but we think this is still critical.

你可能不會像個人電腦業務那樣獲得那麼多的收入和利潤，但我們認為這仍然至關重要。

And it's critical for a variety of reasons.

出於多種原因，它至關重要。

Part of it is simply the scale.

部分原因在於規模。

You want to have those units.

您想要擁有這些單位。

You want to have a presence in all areas of computing.

您希望涉足計算的所有領域。

The second one is developer attention.

第二個是開發商的關注。

You want developers creating new products, doing innovation on your architecture.

您希望開發人員創建新產品，對您的架構進行創新。

And this is a space that's got innovation.

這是一個充滿創新的空間。

We are going to bring some of that innovation to this market.

我們將把一些創新帶入這個市場。

You're going to see some tablets as you go into the end of this year.

進入今年年底，您將會看到一些平板電腦。

We showed them at CES, some of the highlights where you have 3D cameras, you have perceptual computing capabilities for gaming.

我們在 CES 上展示了一些亮點，其中包括 3D 相機、遊戲感知運算能力。

All of those kinds of things can change the tablet market, along with the PC market.

所有這些事情都可以改變平板電腦市場以及個人電腦市場。

So, we believe that we can bring a lot of the innovation that we do in the PC down into the tablet space.

因此，我們相信我們可以將 PC 領域的大量創新帶入平板電腦領域。

And, again, that keeps the developers developing and interested our platform.

而且，這又讓開發人員繼續開發我們的平台並對我們的平台感興趣。

I think for all of those reasons, we want to be in this space, and we will be in this space from now on.

我認為出於所有這些原因，我們希望進入這個領域，並且從現在開始我們將進入這個領域。

I would just add one thing.

我只想補充一件事。

That was very complete but we don't fear the low end of the market.

這是非常完整的，但我們不擔心低端市場。

You look at how we played out in PCs.

你看看我們在電腦上的表現。

You can drive a lot of unit growth by participating in PCs now that are $199 to $250.

現在，您可以透過參與 199 至 250 美元的 PC 來推動大量銷售成長。

We can have the cost structure because of our manufacturing lead to participate nicely there.

由於我們的製造領先地位，我們可以擁有成本結構，從而很好地參與其中。

And you see that as markets mature, they also segment.

你會看到，隨著市場的成熟，它們也會細分。

And so, we have look, you look at our PC business, we have great demand and profitability in core I7s, and it spans down to Bay Trail at the Atom segment of the market.

因此，我們看看我們的 PC 業務，我們對核心 I7 有著巨大的需求和盈利能力，並且它一直延伸到 Atom 市場領域的 Bay Trail。

So, it's a misconception to think that we only want to play at the high end.

因此，認為我們只想打高端比賽是一種誤解。

Our manufacturing leadership can give us the cost structure to play profitably at the low end, as well.

我們在製造領域的領先地位也可以為我們提供在低端市場實現盈利的成本結構。

Thank you, guys.

感謝你們。

Ross Seymore from Deutsche Bank.

德意志銀行的羅斯·西莫爾。

Hi, guys.

嗨，大家好。

Thanks for letting me ask a question.

謝謝你讓我問一個問題。

Back on to the PC Client Group for a second and on to the ASP side of the equation, between the desktop and notebook obviously there's very different dynamics.

回到 PC 用戶端組，再回到等式的 ASP 方面，桌上型電腦和筆記型電腦之間顯然存在非常不同的動態。

Do you see a point in which the notebook side starts flattening out and starts to act like the desktop side, where ASPs have been up strongly both last year and year over year in the first quarter?

您是否看到筆記型電腦端開始趨於平緩並開始像桌上型電腦一樣表現，即去年和第一季的平均售價均強勁成長？

Or is that pressure to the low end going to persist and so we shouldn't think of a flattening out any time soon?

或者說，低端市場的壓力是否會持續存在，因此我們不應該考慮很快就會趨於平緩？

I actually think more about the two markets together.

實際上我更多地考慮這兩個市場。

I think you have this range of devices that are computers and they range from a high end all-in-one down to a $199 very low-cost notebook computer that's being sold.

我認為您擁有一系列電腦設備，從高階一體機到正在銷售的 199 美元的超低成本筆記型電腦。

And I think what we're seeing is strength at both ends of the market.

我認為我們看到的是市場兩端的實力。

If you look at our pricing over the last three years, it's been pretty dead flat on average across the PC market.

如果你看看我們過去三年的定價，你會發現整個 PC 市場的平均定價非常持平。

You can see from my gross margin forecast from 2014 I'm not expecting ASP to be one of the big drivers.

從我對 2014 年毛利率的預測中可以看出，我並不認為 ASP 會成為主要推動因素之一。

So, you can take from that that we continue to see a pretty benign pricing environment.

因此，您可以從中看出，我們繼續看到相當良性的定價環境。

So that's how I think about the market.

這就是我對市場的看法。

I don't know, Brian, if you have --?

我不知道，布萊恩，你是否有──？

I would agree.

我同意。

I don't see it behaving any differently moving forward.

我認為它的未來表現沒有任何不同。

And as my follow-up, switching over to the OpEx side, it's good to see the head count coming down in the second half, down versus the first half.

作為我的後續行動，切換到營運支出方面，很高興看到下半年的人數下降，與上半場相比有所下降。

But you're still significantly elevated versus your target model.

但與目標模型相比，您仍然顯著提高。

I know you're not going to guide for 2015 with any specifics whatsoever.

我知道您不會為 2015 年提供任何具體細節的指導。

But can you remind us, if you do end this year with lower headcount than you ended the prior year -- so, you're going into the year down year over year -- is the tick-tock of process engineering moving from R&D into COGS a head wind or a tail wind in 2015?

但您能否提醒我們，如果您今年結束時的員工人數確實比上一年結束時少，那麼，您將逐年下降，這就是流程工程從研發轉變為流程工程的關鍵點2015 年銷貨成本是逆風還是順風？

Are there any big moving parts that we can think about for that year's OpEx versus this year's?

與今年相比，我們可以考慮當年的營運支出是否有任何重大變化？

Yes, it's the reciprocal to what happens to gross margins.

是的，它是毛利率的倒數。

So, in a year like this year where you see startup costs coming down, that means that the engineers that were working on 14-nanometer that were being classified as cost of sales, now move to 10-nanometer and they are being classified as R&D.

因此，在像今年這樣的一年中，你會看到啟動成本下降，這意味著以前從事 14 奈米技術的工程師被歸類為銷售成本，現在轉向 10 奈米技術，他們被歸類為研發成本。

So, next year you should see some head wind in terms of gross margin and some tail wind in terms of the R&D spending.

因此，明年你應該會看到毛利率方面出現一些逆風，而研發支出方面出現一些順風。

Thank you.

謝謝。

Mark Lipacis from Jefferies.

來自 Jefferies 的 Mark Lipacis。

Thanks for taking my question.

感謝您提出我的問題。

First one, Brian, when you talk about the 40 million unit bogey on tablets this year, could you go through the taxonomy of that a little bit?

首先，Brian，當您談論今年平板電腦上 4000 萬台的忌諱時，您能稍微介紹一下它的分類嗎？

To what extent do you think this is Windows versus Android?

您認為 Windows 與 Android 的差異在多大程度上？

And what's the class of product you think will represent the mode or the mean?

您認為代表模式或平均值的產品類別是什麼？

Where do you think your sweet spot is going to be this year on tablets?

您認為今年平板電腦上的最佳點將在哪裡？

Sure.

當然。

Our mix of OS's reflects pretty much what you see in the marketplace.

我們的作業系統組合幾乎反映了您在市場上看到的情況。

So, I think, depending on how you look at it, it's probably something on the order of 90% Android, 80% Android, 10% to 20% Windows.

所以，我認為，根據你如何看待它，它可能大約是 90% Android、80% Android、10% 到 20% Windows。

Our percentages look very much like the marketplace.

我們的百分比看起來非常像市場。

So, if Windows continues to grow and gain traction I think our percentage would just align directly to that.

因此，如果 Windows 繼續增長並獲得吸引力，我認為我們的百分比將直接與此一致。

So, don't separate what we ship from what's basically in the marketplace.

因此，不要將我們發貨的產品與市場上的基本產品分開。

We are leadership capability on all of the OS's now.

我們現在在所有作業系統上都處於領先地位。

As far as what is the price point, again, it reflects fairly close to what the marketplace is.

至於價格點，它再次反映了與市場相當接近的價格。

You see us in systems below $100 now.

現在您可以在 100 美元以下的系統中看到我們的身影。

The majority of the systems are, say, $125 to $250, somewhere in there.

大多數系統的價格在 125 到 250 美元之間。

And then you see us in some of the upper end systems, $250 to $400.

然後你會在一些高階系統中看到我們的身影，價格為 250 美元到 400 美元。

But the majority is in that, I'd call it.

但大多數都在其中，我稱之為。

$125 to probably $250 range.

125 美元到 250 美元之間。

Okay, thank you.

好的謝謝。

And then as a follow-up, did you discuss, do you expect to have the Android tablets ramping in volume this quarter?

作為後續行動，您是否討論過，您預計本季 Android 平板電腦的銷量會增加嗎？

Should we expect to see the Bay Trail Android products at Computex this year?

我們是否應該期待今年在台北電腦展上看到 Bay Trail Android 產品？

When do we really see the material ramp in the Android products?

我們什麼時候才能真正看到 Android 產品的材料成長？

Thank you.

謝謝。

Sure, absolutely.

當然，絕對。

You can go out to the store today and buy an Android.

您今天可以去商店購買 Android 裝置。

In fact, I'd love you to go buy one of the 40 million we'll sell.

事實上，我希望你能去買我們將要出售的 4000 萬件中的一件。

But, yes, you can buy Android.

但是，是的，你可以購買Android。

It continues to ramp through this quarter.

本季這一數字持續上升。

At Computex we'll show a series of Android- and Windows-based tablets.

在台北電腦展上，我們將展示一系列基於 Android 和 Windows 的平板電腦。

And they just continue to ramp through this year.

今年他們的業績持續成長。

But they're on shelves today.

但今天它們已經上架了。

I saw them in the store this weekend.

這個週末我在商店裡看到了它們。

The majority of the 5 million units, for example, are Android.

例如，500 萬台裝置中的大多數都是 Android 裝置。

Just as Brian said, it more or less follows the distribution between Windows and Android.

正如Brian所說，它或多或少遵循Windows和Android之間的分配。

Thank you.

謝謝。

That's helpful.

這很有幫助。

Thanks, Mark.

謝謝，馬克。

And thank you all for joining us today.

感謝大家今天加入我們。

Jamie, please go ahead and wrap up the call.

傑米，請結束通話。

Ladies and gentlemen, that does conclude the conference for today.

女士們、先生們，今天的會議到此結束。

Again, thank you for your participation.

再次感謝您的參與。

You may all disconnect.

你們都可以斷開連線。

Have a good day.

祝你有美好的一天。