英特爾 (INTC) 2014 Q4 法說會逐字稿

完整原文

使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主

  • Operator

    Operator

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

    女士們先生們,美好的一天,歡迎來到英特爾公司 2014 年第四季度財報電話會議。

  • (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 call over to Mark Henninger.

    我現在想把電話轉給 Mark Henninger。

  • - IR

    - IR

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

    謝謝杰米,歡迎大家參加英特爾 2014 年第四季度財報電話會議。

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

    到現在為止,您應該已經收到一份我們的收益發布以及隨附的 CFO 評論。

  • If you've not received both documents, they are 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,我們的首席執行官 Brian Krzanich 和我們的首席財務官 Stacy Smith 加入了我的行列。

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

    稍後,我們將聽到他們兩人的簡短評論,然後是問答環節。

  • 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.

    在我們開始之前,讓我提醒大家,今天的討論包含前瞻性陳述,基於我們目前看到的環境,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,了解有關可能導致實際結果出現重大差異的具體風險因素的更多信息。

  • 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,如果在此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.

    因此,讓我將其交給布賴恩。

  • - CEO

    - CEO

  • Thanks, Mark.

    謝謝,馬克。

  • The fourth quarter marked a strong finish to a great year.

    第四季度標誌著偉大一年的強勢收尾。

  • We began 2014 expecting roughly flat year-over-year revenue and operating income.

    2014 年初,我們預計收入和營業收入與去年同期大致持平。

  • Instead, the Company's full-year revenue grew 6%, setting an all-time record of $55.9 billion.

    相反,公司的全年收入增長了 6%,創下了 559 億美元的歷史記錄。

  • At the same time, operating income rose 25%.

    與此同時,營業收入增長了 25%。

  • When I became CEO, I set two imperatives for the Company.

    當我成為首席執行官時,我為公司設定了兩項當務之急。

  • First, develop a more outside-in view of markets, to ensure we go to where the markets are heading, and second, increase our velocity, or pace of innovation, in a purposeful direction.

    首先,開發一種更加由外而內的市場觀點,以確保我們能夠緊跟市場的發展方向;其次,朝著有目的的方向提高我們的速度或創新步伐。

  • Over the last year, we've made meaningful progress against these imperatives, which helped us meet and exceed many of our top goals.

    在過去的一年裡,我們在這些當務之急方面取得了有意義的進展,這幫助我們實現並超越了我們的許多首要目標。

  • I'd like to take a moment to review the year.

    我想花點時間回顧一下這一年。

  • In the PC Client Group, our goal was to stabilize the PC business.

    在 PC Client Group,我們的目標是穩定 PC 業務。

  • We expected revenue to be down by a low single digit percentage, and for operating profit to be roughly flat year-over-year.

    我們預計收入將下降一個較低的個位數百分比,而營業利潤將與去年同期大致持平。

  • Instead, the year closed with a 4% increase in revenue, and a 25% increase in operating profit.

    相反,這一年結束時收入增長了 4%,營業利潤增長了 25%。

  • Our focus on reinventing the computing experience, and leaving no segment unserved, from the low end to the high end, contributed to these results.

    我們專注於重塑計算體驗,從低端到高端,不遺餘力地服務所有細分市場,促成了這些結果。

  • We launched Broadwell, on the world's first 14-nanometer manufacturing processor.

    我們在世界上第一個 14 納米製造處理器上推出了 Broadwell。

  • While we did have some start-up challenges that contributed to roughly six months delay, the yields have steadily improved.

    雖然我們確實遇到了一些導致大約六個月延遲的啟動挑戰,但收益率穩步提高。

  • The end result is a family of core M and fifth generation Core processors that are the foundation for the industry's most compelling new designs.

    最終結果是一系列核心 M 和第五代核心處理器,它們是業界最引人注目的新設計的基礎。

  • These designs include the thinnest, lightest, and most energy-efficient notebooks, two in ones, ultrabooks, Chromebooks and mini PCs.

    這些設計包括最薄、最輕和最節能的筆記本電腦、二合一筆記本電腦、超極本、Chromebook 和迷你電腦。

  • We began the year with high expectations for the Data Center Group.

    年初,我們對數據中心集團抱有很高的期望。

  • We said we would capitalize on the growth of the cloud and big data, by diversifying customer segments and product leadership.

    我們說過,我們將通過多樣化客戶群和產品領導地位來利用雲和大數據的增長。

  • We initially forecasted revenue growth in the low to mid-teens, with operating profit growing faster than revenue.

    我們最初預測收入增長在中低端,營業利潤增長快於收入。

  • We exceeded those high expectations, and grew revenue 18%, while operating profit expanded by a remarkable 31%.

    我們超出了這些高預期,收入增長了 18%,而營業利潤增長了 31%。

  • In the Mobile and Communications Group, we set a goal to ship into 40 million tablets in 2014.

    在移動和通信事業部,我們設定了 2014 年出貨 4000 萬台平板電腦的目標。

  • This goal was intended to establish into architecture in the marketplace, and scale the supply chain, and attract developers.

    這個目標旨在建立市場架構,擴展供應鏈,並吸引開發人員。

  • I'm pleased to report that we shipped into 46 million tablets, becoming one of the industry's largest merchant silicon providers in tablets.

    我很高興地報告,我們出貨了 4600 萬台平板電腦,成為業界最大的平板電腦商業矽供應商之一。

  • We also began shipping our second-generation LTE baseband, known as 7260.

    我們還開始發售我們的第二代 LTE 基帶,即 7260。

  • We're proud that the Company reached these milestones, but we have more work ahead of us.

    我們為公司達到這些里程碑感到自豪,但我們還有更多的工作要做。

  • A key goal for mobility is to improve profitability.

    移動性的一個關鍵目標是提高盈利能力。

  • To that end, we just qualified the first SOC in our SoFIA line-up.

    為此,我們剛剛對 SoFIA 系列中的第一個 SOC 進行了認證。

  • SoFIA is a low-cost integrated applications processor and baseband chip.

    SoFIA是一款低成本的集成應用處理器和基帶芯片。

  • As it ramps, it will progressively reduce the bill of material costs that have adversely affected our gross margins in the mobile business.

    隨著它的發展,它將逐步降低對我們移動業務的毛利率產生不利影響的材料成本。

  • We also struck landmark agreements with Rockchip and Spreadtrum to expand the development and distribution of IA products [performing in highlight].

    我們還與 Rockchip 和 Spreadtrum 達成了具有里程碑意義的協議,以擴大 IA 產品的開發和分銷[表現突出]。

  • Similarly, we grew other adjacent [synergies] by using IP from our core products.

    同樣,我們通過使用來自我們核心產品的知識產權來發展其他相鄰的[協同效應]。

  • For example, our Internet of Things group grew 19% in 2014, passing the $2 billion mark for the first time.

    例如,我們的物聯網集團在 2014 年增長了 19%,首次突破 20 億美元大關。

  • The recently-launched RealSense 3D camera technology is another example of extending our IP.

    最近推出的 RealSense 3D 攝像頭技術是擴展我們 IP 的另一個例子。

  • RealSense is redefining imaging in a variety of computing devices.

    RealSense 正在重新定義各種計算設備中的成像。

  • It's also making its way into all sorts of new and unanticipated applications, highlighting the value of taking an outside-in view, investing ahead of trend, and shaping nascent technology.

    它還正在進入各種新的和意想不到的應用程序,突出了從外部觀察、領先於趨勢投資和塑造新興技術的價值。

  • Finally, you see us moving quickly into wearables, through our growing portfolio of collaborations with world-class fashion and fitness brands, like Fossil, Oakley, Opening Ceremony and SMS Audio, along with our own products like the Basis Peak and the Curie Module, a computer the size of a button.

    最後,您會看到我們通過與世界級時尚和健身品牌(如 Fossil、Oakley、Opening Ceremony 和 SMS Audio)以及我們自己的產品(如 Basis Peak 和 Curie Module)不斷擴大的合作組合,迅速進入可穿戴設備領域,按鈕大小的計算機。

  • Intel is in a very different place today than we were just 12 months ago.

    與 12 個月前相比,英特爾今天的處境截然不同。

  • We are participating in a broader range of devices, but we are innovating in emerging segments.

    我們正在參與更廣泛的設備,但我們正在新興領域進行創新。

  • These are the trends we will build on in 2015, bringing us closer to our vision that if it's smart and connected, it is best with Intel.

    這些是我們將在 2015 年建立的趨勢,使我們更接近我們的願景,即如果它是智能和連接的,那麼最好是英特爾。

  • Our work isn't done, but our progress against our imperatives leaves us increasingly confident in our strategy.

    我們的工作尚未完成,但我們在執行任務方面取得的進展使我們對我們的戰略越來越有信心。

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

    有了這個,讓我把電話轉給斯泰西。

  • - CFO

    - CFO

  • Thanks, Brian.

    謝謝,布萊恩。

  • To reiterate what Brian said, the fourth quarter was a strong finish to a great year.

    重申布賴恩所說的話,第四季度是對偉大一年的有力收尾。

  • Revenue of $14.7 billion was a record for the Company, and was up 6% from the prior year.

    147 億美元的收入創下了公司的歷史記錄,比上一年增長了 6%。

  • The strength of our product portfolio can be seen in our gross margin of over 65%, and in our profitability.

    從我們超過 65% 的毛利率和我們的盈利能力中可以看出我們產品組合的實力。

  • Operating income grew 25%, and earnings per share, which also benefited from the passage of the R&D tax credit, grew 45% from a year ago.

    營業收入增長 25%,每股收益也比去年同期增長 45%,這也得益於研發稅收抵免的通過。

  • From a market perspective, we saw nice unit and revenue growth in the PC Client Group segment, with revenue up 3% and operating profit up 18%, on a year-over-year basis.

    從市場角度來看,我們看到 PC 客戶端部門的單位和收入增長不錯,收入同比增長 3%,營業利潤增長 18%。

  • The Data Center Group benefited from the build-out of the cloud, data analytics and our strong product portfolio.

    數據中心集團受益於雲、數據分析和我們強大的產品組合的構建。

  • This business achieved 25% revenue growth, and 39% profit growth year-over-year.

    該業務收入同比增長 25%,利潤同比增長 39%。

  • The Company saw modest increase in net inventory levels quarter-over-quarter, as we were efficiently managing capacity, while ramping Broadwell on 14-nanometer, and the worldwide PC supply chain appears to be healthy, with inventory levels appropriate as we enter the first quarter.

    由於我們有效地管理產能,同時在 14 納米上增加了 Broadwell,公司的淨庫存水平環比略有增加,全球 PC 供應鏈似乎很健康,庫存水平在我們進入第一個階段時是合適的四分之一。

  • These results for the fourth quarter completed a strong year for Intel.

    第四季度的這些結果對英特爾來說是一個強勁的一年。

  • Recapping the 2014 financials.

    回顧 2014 年的財務狀況。

  • For full-year 2014, revenue of $55.9 billion was up 6%, operating income of $15.3 billion was up 25%, and earnings per share of $2.31 was up 22% from 2013.

    2014 年全年收入為 559 億美元,增長 6%,營業收入為 153 億美元,增長 25%,每股收益為 2.31 美元,較 2013 年增長 22%。

  • Gross margin of approximately 64% in 2014 is up about 4 points from 2013.

    2014 年的毛利率約為 64%,比 2013 年提高了約 4 個百分點。

  • Spending on R&D and G&A was $19.7 billion in 2014, up $1 billion from 2013, driven primarily by increased R&D spending, and higher profit-dependent spending.

    2014 年研發和 G&A 支出為 197 億美元,比 2013 年增加 10 億美元,這主要是由於研發支出增加以及依賴利潤的支出增加。

  • In 2014, both our PC business and our data center business outperformed our expectations at the start of the year.

    2014 年,我們的 PC 業務和數據中心業務都超出了我們年初的預期。

  • PC Client Group revenue grew by 4%.

    PC Client Group 收入增長了 4%。

  • We saw PC Client Group platform volumes grow 8% from a year ago, and inclusive of tablets, we saw 18% unit growth.

    我們看到 PC 客戶端組平台銷量比一年前增長了 8%,包括平板電腦在內,我們看到了 18% 的單位增長。

  • Operating profit for the PC Client Group segment was up 25% over the same horizon.

    同期,PC 客戶端部門的營業利潤增長了 25%。

  • We saw robust growth in our Data Center business, with 8% unit growth leading to 18% revenue growth from 2013, and operating profit growth of 31%.

    我們看到數據中心業務強勁增長,8% 的單位增長導致 2013 年收入增長 18%,營業利潤增長 31%。

  • Additionally, in comparison to 2013, the Internet of Things segment achieved revenue growth of 19%.

    此外,與 2013 年相比,物聯網業務實現了 19% 的收入增長。

  • The software and services operating segment was up slightly.

    軟件和服務運營部門小幅上漲。

  • Our NAND business grew at a fast pace, and although revenue was down for the Mobile and Communications Group, we grew share in tablets.

    我們的 NAND 業務增長迅速,儘管移動和通信集團的收入有所下降,但我們在平板電腦中的份額有所增長。

  • The business continued to generate significant cash, with $20.4 billion of cash from operations in 2014.

    該業務繼續產生大量現金,2014 年的運營現金為 204 億美元。

  • Total cash balances at the end of the year was roughly $14.1 billion, down approximately $6 billion from a year ago.

    年末現金餘額總額約為 141 億美元,較上年同期減少約 60 億美元。

  • We purchased $10.1 billion in capital assets, down from our prior outlook of $11 billion, as we found efficiencies, optimized the manufacturing network, and increased our factory utilization.

    我們購買了 101 億美元的資本資產,低於我們之前預期的 110 億美元,因為我們發現了效率、優化了製造網絡並提高了工廠利用率。

  • In addition, we paid $4.4 billion in dividends, and in November, we announced the dividend increase to $0.96 per share on an annual basis, effective for the first quarter of 2015.

    此外,我們支付了 44 億美元的股息,並且在 11 月,我們宣布將年度股息增加至每股 0.96 美元,從 2015 年第一季度開始生效。

  • We repurchased about $10.8 billion of stock in 2014, up from $2.1 billion in 2013.

    我們在 2014 年回購了約 108 億美元的股票,高於 2013 年的 21 億美元。

  • Our net cash balance, total cash less debt, is approximately $340 million, and inclusive of our other longer-term investments is more than $4 billion.

    我們的淨現金餘額(總現金減去債務)約為 3.4 億美元,包括我們的其他長期投資在內超過 40 億美元。

  • This is down by over $5.5 billion from the start of the year.

    這比年初減少了超過 55 億美元。

  • As we look forward to the first quarter of 2015, we are forecasting the midpoint of the revenue range at $13.7 billion, plus or minus $500 million, down about 7% from the fourth quarter.

    展望 2015 年第一季度,我們預測收入範圍的中點為 137 億美元,上下浮動 5 億美元,比第四季度下降約 7%。

  • This forecast is in line with the average seasonal decline for the first quarter.

    這一預測符合第一季度的平均季節性下降。

  • We are forecasting the midpoint of the gross margin range for the first quarter to be 60%, plus or minus a couple of points.

    我們預測第一季度毛利率範圍的中點為 60%,上下浮動幾個百分點。

  • Consistent with the business drivers discussed in the November investor meeting, the 5 point decline from the fourth quarter is primarily driven by higher platform unit costs on 14-nanometer products, higher factory start-up costs, and lower platform volumes.

    與 11 月投資者會議上討論的業務驅動因素一致,與第四季度相比下降 5 個百分點主要是由於 14 納米產品的平台單位成本上升、工廠啟動成本上升以及平台產量下降。

  • Turning to full-year 2015, we're planning for revenues to grow in the mid single digits.

    談到 2015 年全年,我們計劃收入以中個位數增長。

  • We are forecasting the midpoint of our gross margin range at 62%, plus or minus a couple of points.

    我們預測毛利率範圍的中點為 62%,上下浮動幾個百分點。

  • We are forecasting R&D and MG&A spending for the year at $20 billion plus or minus $400 million, and we are forecasting capital spending of $10 billion plus or minus $500 million.

    我們預測今年的研發和 MG&A 支出為 200 億美元上下 4 億美元,我們預計資本支出為 100 億美元上下 5 億美元。

  • 2014 was a great year, and the financials demonstrate our strategy and action as we enter 2015.

    2014 年是偉大的一年,財務數據展示了我們進入 2015 年時的戰略和行動。

  • First, we are growing again across a broad range of products and markets.

    首先,我們在廣泛的產品和市場上再次增長。

  • Second, we continue to invest in our core competitive advantages of leadership IT and leadership manufacturing.

    其次,我們繼續投資於領先 IT 和領先製造的核心競爭優勢。

  • These competitive advantages are becoming increasingly valuable, and increasingly rare.

    這些競爭優勢變得越來越有價值,也越來越難得。

  • Third, we are in a great position to benefit from the build out of the cloud and data analytics as we enter 2015, and we expect these trends to drive growth again this year.

    第三,進入 2015 年,我們處於從雲構建和數據分析中獲益的有利位置,我們預計這些趨勢將在今年再次推動增長。

  • And last, we continue to execute to our strategy of both investing in our business, and also generating return for our shareholders, via the dividend and the buyback.

    最後,我們繼續執行我們的戰略,既投資於我們的業務,又通過股息和回購為我們的股東創造回報。

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

    有了這個,讓我把它轉回給馬克。

  • - IR

    - IR

  • Okay, thank you, Brian and Stacy.

    好的,謝謝你,Brian 和 Stacy。

  • Moving on to the Q&A, as is our normal practice, we would ask each participant to ask one question and just one 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,如果有的話,只問一個後續問題。

  • Jamie, please introduce our first questioner.

    Jamie,請介紹我們的第一個提問者。

  • Operator

    Operator

  • Our first question comes from Chris Danely from Citigroup.

    我們的第一個問題來自花旗集團的 Chris Danely。

  • - Analyst

    - Analyst

  • Brian in all sincerity, congratulations on a great year for yourself and the Company.

    Brian 真誠地祝賀您和公司度過了美好的一年。

  • I guess a first question is on gross margins.

    我想第一個問題是關於毛利率。

  • Can you just talk about -- I guess it's for Stacy, the trend in gross margins after Q1, and embedded in that, do you think that the second half of 2015 gross margins can be equal to the second half of 2014 gross margins?

    你能不能談談 - 我猜這是對 Stacy 而言,第一季度後的毛利率趨勢,並嵌入其中,你認為 2015 年下半年的毛利率可以等於 2014 年下半年的毛利率嗎?

  • And for this year, assuming something close to normal, can we assume gross margins would be up in 2016 on an apples-to-apples basis?

    對於今年,假設情況接近正常,我們是否可以假設 2016 年的毛利率會在同類基礎上上升?

  • - CFO

    - CFO

  • Chris, this is Stacy.

    克里斯,這是斯泰西。

  • Yes, I'll just start this by saying I'm not going to forecast 2016 gross margins in January of 2015.

    是的,我首先要說我不會在 2015 年 1 月預測 2016 年的毛利率。

  • We'll probably talk about those in November, so you're getting a little ahead of me.

    我們可能會在 11 月討論這些問題,所以你說得有點超前了。

  • In terms of what's happening in the gross margin, it's very consistent with what we talked about in the November investor meeting.

    就毛利率的變化而言,這與我們在 11 月的投資者會議上談到的非常一致。

  • And to specifically answer your question, yes, I expect that the second-half gross margins will be back above the midpoint we forecasted at 62% for the year, we're at 60% in Q1, I think the second half will be above the midpoint and the first half will be below, this is all that I told you in November.

    具體回答你的問題,是的,我預計下半年毛利率將回到我們預測的全年 62% 的中點之上,我們在第一季度為 60%,我認為下半年將高於中點和上半年將在下方,這就是我在 11 月告訴你的全部內容。

  • The big drivers for us here are 14-nanometer, as 14-nanometer becomes a larger mix of our products, we're mixing up in terms of our costs.

    我們這裡的主要驅動力是 14 納米,因為 14 納米成為我們產品的更大組合,我們在成本方面混淆了。

  • That is higher than normal in the beginning of the year, and then it will come down and catch up to prior technologies, by the time we get into the back half.

    這在年初高於正常水平,然後在我們進入下半年時它會下降並趕上先前的技術。

  • We have some increase in start up costs, and then we'll get some good news associated with getting back some of the impact associated with tablets, so we get back about half of the impact from 2014 into 2015.

    我們的啟動成本有所增加,然後我們會得到一些與恢復一些與平板電腦相關的影響相關的好消息,因此我們可以恢復 2014 年到 2015 年的大約一半影響。

  • In terms of whether that will match the back half of 2014, I'd say that the only thing that I'd point to is 2015 is a year where we have start-up costs, so it's going to be an overhang through the year and you know our cadence is kind of every other year, so probably adjusted for that, we're going to be in the same kind of range.

    就這是否與 2014 年下半年相符而言,我想說的是,我唯一要指出的是 2015 年是我們有啟動成本的一年,所以這將是一個懸而未決的年度你知道我們的節奏是每隔一年的一次,所以可能會為此進行調整,我們將處於相同的範圍內。

  • - Analyst

    - Analyst

  • Great, and then for my follow-up, a question for Brian, just on the MCG business.

    太好了,然後是我的後續行動,Brian 的問題,只是關於 MCG 業務。

  • So Brian, I guess we're still losing a little more than $1 billion a quarter, but you said that those losses will go down.

    所以布賴恩,我想我們每個季度仍然虧損超過 10 億美元,但你說過這些虧損會下降。

  • Any color you can provide on that?

    您可以提供任何顏色嗎?

  • Anything you can give us in terms of your overall goals, or goals for the mobile business this year, either in units or profitability, or anything else there?

    就您的總體目標或今年移動業務的目標而言,您可以向我們提供任何信息,無論是單位數量還是盈利能力,還是其他任何方面?

  • - CEO

    - CEO

  • Sure, Chris.

    當然,克里斯。

  • So what we said for 2015, so if you remember, step back, in 2014 we said look, we have to go out and establish a footprint here.

    所以我們在 2015 年說過的話,所以如果你還記得的話,退後一步,在 2014 年我們說看,我們必須走出去在這裡建立足跡。

  • We have to get ourselves known in this market, be considered a serious player, and get the developers attracted -- both the hardware and software developers interested in IA, so we set a goal, a unit level goal, saying we knew we were serious and we bought parts that were not necessarily designed for this segment, and that's where the BoM cost deltas came from.

    我們必須讓自己在這個市場上廣為人知,被認為是一個認真的參與者,並吸引開發人員——對 IA 感興趣的硬件和軟件開發人員,所以我們設定了一個目標,一個單位級別的目標,說我們知道我們是認真的我們購買的零件不一定是為這個細分市場設計的,這就是 BoM 成本增量的來源。

  • For 2015, we feel like we've done a very nice job now of establishing ourselves, we're one of the top producers of silicon in this segment, and our goal right now is from a unit perspective.

    對於 2015 年,我們覺得我們現在在建立自己方面做得非常好,我們是該領域的頂級矽生產商之一,我們現在的目標是從單位的角度來看。

  • We think we can just grow roughly at what the market will grow for tablets, so we don't need to go out and necessarily outpace the market or anything like that for this year, from a growth perspective.

    我們認為我們可以大致按照平板電腦市場的增長速度增長,所以從增長的角度來看,我們不需要走出去,也不一定要超越今年的市場或類似的東西。

  • Instead, we're going to focus on two segments and that is one, as you just said, getting our cost profiles down, making it so that we're much more cost effective, and then as a result, getting the loss out.

    相反,我們將專注於兩個部分,正如您剛才所說,這是一個部分,降低我們的成本概況,使其更具成本效益,然後消除損失。

  • Stacy and I committed to drive $800 million out of this business for 2015.

    Stacy 和我承諾在 2015 年從這項業務中賺取 8 億美元。

  • We believe we have a solid plan to go do that.

    我們相信我們有一個可靠的計劃來做到這一點。

  • That's based on a couple of things.

    這是基於幾件事。

  • One, part of this reorganization was to drive efficiency, to get the consistency across the platform, to be utilized, and to get the efficiency of people, of hardware, of software, of all of that.

    第一,這種重組的一部分是提高效率,獲得跨平台的一致性,得到利用,並提高人員、硬件、軟件等所有方面的效率。

  • The other one is, as we move into the second half of this year especially, SoFIA, which we said was designed for this segment, has no BoM or difference really starts to ramp, and you saw we've already internally qualified our first SoFIA, the 3G version.

    另一個是,隨著我們進入今年下半年,我們所說的專為該細分市場設計的 SoFIA 沒有 BoM 或差異真正開始上升,您看到我們已經在內部對我們的第一個 SoFIA 進行了認證, 3G版本。

  • We said the next version, the LTE version, would be in the first half of next year, and that will ramp through the year.

    我們說下一個版本,即 LTE 版本,將在明年上半年推出,並且將在今年逐步推出。

  • So as those come in, they take a lot of that cost delta out, and that's -- where we're feeling fairly good about the $800 million.

    因此,當這些進來時,他們會減少很多成本增量,那就是 - 我們對 8 億美元感覺相當不錯。

  • The other place, you saw the Dell Venue 8 7000 is a great example.

    在另一個地方,您看到的 Dell Venue 8 7000 就是一個很好的例子。

  • It won Best of Innovation at CES, and Best of Show at CES, and it's a showing the thinnest tablet with real innovation at a $399 price, where people can start to make money in the tablet space a little bit, now again, and so we think the combination of the right products plus real innovation like that will allow us to make real progress.

    它贏得了 CES 的最佳創新獎和 CES 的最佳展示獎,它以 399 美元的價格展示了具有真正創新的最薄平板電腦,人們可以開始在平板電腦領域賺一點錢,現在又開始了,等等我們認為正確的產品與真正的創新相結合將使我們取得真正的進步。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • The next question comes from Mike McConnell from Pacific Crest Securities.

    下一個問題來自 Pacific Crest Securities 的 Mike McConnell。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝你。

  • Looking at the balance sheet, Stacy, there was a pretty significant spike in receivables in Q4, and DSOs look like they are pretty elevated, relative to levels we've seen in the last couple years.

    看看資產負債表,Stacy,第四季度的應收賬款出現了相當大的飆升,而且 DSO 看起來相當高,相對於我們在過去幾年看到的水平。

  • Could you explain what was going on there with the receivables?

    你能解釋一下應收賬款的情況嗎?

  • - CFO

    - CFO

  • Sure and actually, I think DSOs still are in a healthy range, but the timing, the quarter was a little bit more back-end loaded than Q3 was, and so we ended the quarter with more receivables.

    當然,實際上,我認為 DSO 仍處於健康範圍內,但這個季度的後端負載比第三季度多一點,所以我們在本季度結束時有更多的應收賬款。

  • It was as simple as that.

    就這麼簡單。

  • We started with, we didn't have a terribly strong October, and the quarter strengthened as we went through.

    我們開始時,我們的 10 月表現並不強勁,隨著我們的經歷,該季度有所加強。

  • - Analyst

    - Analyst

  • Okay, great.

    好,太棒了。

  • And then just looking at linearity for DCG, given you've got a new product family, we've got an operating system from Microsoft that's going to be expiring this year, could you give us any color on how we should expect linearity on a quarterly basis for DCG this year, if it will be any different than what we see in the past?

    然後看看 DCG 的線性度,假設你有一個新的產品系列,我們有一個來自 Microsoft 的操作系統將在今年到期,你能給我們任何關於我們應該如何期望線性度的顏色嗎?今年 DCG 的季度基礎,是否會與我們過去看到的有所不同?

  • - CFO

    - CFO

  • So yes, I think we always caution you, the PC market I think we have data that says it behaves roughly seasonal.

    所以是的,我想我們總是提醒你,PC 市場我認為我們有數據表明它的表現大致是季節性的。

  • With DCG, you have to be careful because you have 5 to 10 very large cloud customers, that based on their buying patterns, can really change the quarter-to-quarter trend, so I tend to hesitate to tie too much to seasonal in DCG.

    使用 DCG,你必須小心,因為你有 5 到 10 個非常大的雲客戶,根據他們的購買模式,確實可以改變季度趨勢,所以我傾向於在 DCG 中猶豫是否將太多與季節性聯繫起來.

  • When you look at the results over the course of 2014, it was robust unit growth, it was great revenue growth, 18% revenue growth.

    當你看一下 2014 年的結果時,它是強勁的單位增長,這是巨大的收入增長,收入增長 18%。

  • As we said in the investor meeting, we think that the underlying trends that are driving that continue into 2015, and we put a forecast out there that said in excess of 15% growth.

    正如我們在投資者會議上所說,我們認為推動這種趨勢的潛在趨勢將持續到 2015 年,我們做出了超過 15% 的增長預測。

  • That is what we still think.

    那是我們仍然認為的。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • The next question comes from Ambrish Srivastava from BMO Capital Markets.

    下一個問題來自 BMO Capital Markets 的 Ambrish Srivastava。

  • - Analyst

    - Analyst

  • Thank you, Brian.

    謝謝你,布萊恩。

  • I just wanted to continue with the question on the mobility side.

    我只是想繼續討論移動方面的問題。

  • Based on the drivers that you laid out, should we then expect that the recovery in the operating losses should be more back-end loaded?

    根據您列出的驅動因素,我們是否應該期望運營損失的恢復應該更多的後端負載?

  • And then you mentioned that tablets, you expect to grow with the end market, and most -- at least I'll speak for myself, we expect almost no growth.

    然後你提到平板電腦,你希望與終端市場一起增長,而且大多數 - 至少我會為自己說話,我們預計幾乎沒有增長。

  • So is that how you guys are thinking about the tablet market?

    那麼你們是如何看待平板電腦市場的呢?

  • And then I had a quick follow-up for you, Stacy.

    然後我對你進行了快速跟進,Stacy。

  • - CEO

    - CEO

  • Sure, so let me give you how we view the market and then I'll let Stacy talk about how the $800 million is laid out through the year, and then you can talk about the margins too.

    當然,讓我告訴你我們如何看待市場,然後我會讓斯泰西談談今年 8 億美元的佈局,然後你也可以談談利潤率。

  • I've seen forecasts that are at or near zero, as you say.

    正如您所說,我已經看到預測為零或接近零。

  • I've seen forecasts that are a slight decline.

    我看到預測略有下降。

  • I've seen forecasts that have, I'll say 10 to low teen growth in tablets, and it's varied as the fourth quarter went through even, so that's why we've said we'll grow at the rate that the market does.

    我看到過預測,我會說平板電腦的增長速度為 10 至 10 %,而且隨著第四季度的增長,情況也有所不同,所以這就是為什麼我們說我們將以市場的速度增長。

  • I don't think I want to necessarily shrink, so unless the market shrinks significantly, I think we would then probably try and target more of a flattish, but in general, I think saying that we're going to grow at market tells you I'm not going to try and outgrow the market, is the message I'm trying to send.

    我不認為我一定要縮水,所以除非市場大幅縮水,否則我認為我們可能會嘗試以持平為目標,但總的來說,我認為說我們將在市場上增長告訴你我不會試圖超越市場,這是我想傳達的信息。

  • And whether it's minus 5, 0, or plus 5 to 10, I call all of that flattish to growing with the market.

    無論是負 5、0 還是正 5 到 10,我都認為所有這些都與市場一起增長持平。

  • - CFO

    - CFO

  • Yes, and on the linearity of the $800 million improvement, there's really at the highest level three things that are improving our profitability this year, so first is bringing SoFIA into the product mix.

    是的,根據 8 億美元改進的線性,今年確實有三件事在提高我們的盈利能力,所以首先是將 SoFIA 納入產品組合。

  • That helps us both from a standpoint of the SoC cost that SoFIA has and the contra revenue dollars associated with the bill of material offset that we've been providing, which we don't plan to provide with SoFIA.

    從 SoFIA 的 SoC 成本和與我們一直提供的物料清單抵消相關的相反收入美元的角度來看,這對我們都有幫助,我們不打算與 SoFIA 一起提供。

  • That is back-end loaded.

    那是後端加載。

  • We're bringing SoFIA into the family as we speak, but it becomes really significant volume for us when we get into the back half.

    正如我們所說,我們正在將 SoFIA 帶入家庭,但當我們進入後半部分時,它對我們來說變得非常重要。

  • The second one is the ramp of LTE to offset some of the investments we've been making there.

    第二個是 LTE 的發展,以抵消我們在那裡所做的一些投資。

  • That ramp is under way now, but I would expect the back half line to be higher than the first half.

    該斜坡現在正在進行中,但我預計後半線會高於上半場。

  • So that also is a little bit more back-end loaded.

    因此,這也需要更多的後端加載。

  • And then the third is, as we've said, we're shifting the investment profile, and that's more linear across the year, so those are the three items and two of those three does put more of the improvement in the back half.

    然後第三個是,正如我們所說的那樣,我們正在改變投資狀況,而且這一年的線性度更高,所以這三個項目,其中兩個確實在後半部分帶來了更多的改善。

  • - Analyst

    - Analyst

  • Okay, thank you and my quick follow-up for you, Stacy, is on the capital allocation side.

    好的,謝謝你,斯泰西,我對你的快速跟進是在資本配置方面。

  • Last couple of quarters, you did a great job, brought back a lot of stock, but if I look at the onshore versus offshore on the balance sheet, there's just a $2 billion delta.

    過去幾個季度,你做得很好,帶回了很多股票,但如果我看看資產負債表上的在岸和離岸,只有 20 億美元的增量。

  • Could you remind us in terms of the cash flow generated, how much is onshore versus offshore, and then the ramifications for stock buyback?

    您能否就產生的現金流、在岸與離岸的現金流量以及股票回購的影響等方面提醒我們?

  • Thank you.

    謝謝你。

  • - CFO

    - CFO

  • Sure.

    當然。

  • It varies year by year, depending on where we're -- remember, we actually invest in factories around the world, so a lot of the onshore versus offshore will vary based on where we're starting out factories, but the majority of our cash generation is in the US.

    它每年都在變化,這取決於我們在哪裡 - 請記住,我們實際上在世界各地投資工廠,所以很多在岸和離岸將根據我們開始建廠的地方而有所不同,但我們的大部分現金產生在美國。

  • We do generate a lot of cash, and we certainly have the ability to use that for any corporate purposes, including a buyback.

    我們確實產生了大量現金,我們當然有能力將其用於任何公司目的,包括回購。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • The next question comes from Jim Covello from Goldman Sachs.

    下一個問題來自高盛的 Jim Covello。

  • - Analyst

    - Analyst

  • Thanks so much for taking the question.

    非常感謝您提出這個問題。

  • First question, Stacy, I see the CapEx is shifting around a little bit.

    第一個問題,Stacy,我看到資本支出正在發生一些變化。

  • Anything significant there, or are you just able to find a little bit of the ability to save some money?

    那裡有什麼重要的東西,或者你能找到一點點省錢的能力嗎?

  • - CFO

    - CFO

  • Yes, I would term it as a fairly significant reduction in CapEx for 2014, and we brought down, we brought the CapEx for 2015 down to the bottom of the range.

    是的,我將其稱為 2014 年資本支出相當顯著的減少,我們降低了,我們將 2015 年的資本支出降至範圍的底部。

  • And it's a variety of things.

    這是各種各樣的事情。

  • When I look at the savings we had in 2014, about half of it was due to call it basic blocking and tackling.

    當我查看我們在 2014 年的節省時,其中大約一半是由於稱之為基本攔截和搶斷。

  • We were able to negotiate some lower pricing, we had some non-capacity related projects that we were able to push out of the year, and we're always looking for those opportunities, and I think the manufacturing organization did a great job of finding them.

    我們能夠協商一些較低的價格,我們有一些非產能相關的項目我們能夠在今年推出,我們一直在尋找這些機會,我認為製造組織在尋找方面做得很好他們。

  • And then about half of it is, as we progressed over the course of 2014, we learned a couple of things.

    然後大約一半是,隨著我們在 2014 年取得進展,我們學到了一些東西。

  • One is, our confidence in yields and our yield forecast went up.

    一是,我們對收益率的信心和我們的收益率預測上升了。

  • That's what we showed you in the November investor meeting.

    這就是我們在 11 月的投資者會議上向您展示的內容。

  • Secondly, the manufacturing organization demonstrated the ability to start up factories more quickly than we had assumed at the beginning of the year.

    其次,製造組織展示了比我們年初假設更快的工廠開工能力。

  • And the combination of that allowed us to shift out the third HVM 14-nanometer factory that starts up now kind of mid 2015, out by two to three months, and that doesn't sound like a lot, but given how capital intensive those factories are, that actually gives us a much more capital efficient ramp, and we're able to generate some savings as a result of it.

    這一切的結合使我們能夠將第三家 HVM 14 納米工廠轉移出去,現在大約在 2015 年年中,轉移了兩到三個月,這聽起來並不多,但考慮到這些工廠的資本密集程度是的,這實際上給了我們一個更有效的資本增長,我們因此能夠節省一些錢。

  • - Analyst

    - Analyst

  • That's helpful, thank you.

    這很有幫助,謝謝。

  • And as a follow-up, Brian, could you, just on the highest level maybe, give us a sense of how you think the PC market stands today entering 2015, compared to how it was entering 2014?

    作為後續行動,布賴恩,你能否從最高層面向我們介紹一下你認為進入 2015 年的 PC 市場與進入 2014 年的情況相比如何?

  • Some of the ODM data would suggest we exited 2014 a little weaker, but that may just be a function of that weak October that Stacy had mentioned in terms of the linearity and things.

    一些 ODM 數據表明我們在 2014 年退出時略微疲軟,但這可能只是 Stacy 在線性和其他方面提到的那個疲軟的 10 月的一個函數。

  • Maybe it really is more similar than we thought, even though the quarterly data isn't quite as good in 2014 as it was in 2013.

    也許它真的比我們想像的更相似,儘管 2014 年的季度數據不如 2013 年那麼好。

  • But maybe if you could offer your perspective there, thank you.

    但也許如果你能在那裡提供你的觀點,謝謝。

  • - CEO

    - CEO

  • Yes, so I'm not sure of all your statistics you threw out there, Jim, but let me just give you our view of the PC market.

    是的,所以我不確定你扔在那裡的所有統計數據,吉姆,但讓我告訴你我們對 PC 市場的看法。

  • I think when we look at Q4, and then again, as you look at 2014 overall, it was a very, we played out exactly as we forecasted and predicted, and Q4 ended up being very much a seasonal quarter.

    我認為當我們回顧第四季度時,再回顧一下 2014 年的整體情況,我們的表現完全符合我們的預測和預測,而第四季度最終成為一個非常季節性的季度。

  • We saw demand in the more mature markets stronger, especially on the consumer side than in the emerging markets.

    我們看到更成熟市場的需求比新興市場更強勁,尤其是在消費者方面。

  • And as Stacy mentioned, our inventories as we exit Q4, we're very comfortable with where the inventories are.

    正如 Stacy 提到的,我們在第四季度結束時的庫存,我們對庫存的位置非常滿意。

  • So remember as we exited Q3 and entered Q4, there might have been, there was some concern there might have been a little inventory, we feel like we've burned that off through the system, especially a lot of that was down at the low end.

    所以請記住,當我們退出第三季度並進入第四季度時,可能會有一些人擔心可能會有一些庫存,我們覺得我們已經通過系統將其燒掉了,尤其是很多庫存都處於低位結尾。

  • And as we exit Q4, we're very comfortable with the inventory.

    當我們退出第四季度時,我們對庫存非常滿意。

  • For me as I look out into now 2015, I look at it and say okay, we've got Core M, which has just really hit the market as we entered into the holiday season.

    對我來說,展望現在的 2015 年,我看著它說好吧,我們有 Core M,它在我們進入假期時才真正進入市場。

  • You saw great thin fanless two in one devices at all price points, that I believe will stimulate usage there.

    你看到了各種價位的超薄無風扇二合一設備,我相信這會刺激那裡的使用。

  • We've got the Broadwell U, which is the first of really the high volume Broadwells, just hitting the market.

    我們有 Broadwell U,它是真正大批量 Broadwell 中的第一款,剛剛投放市場。

  • We've got something, a dozen systems in Q1 that will be coming out on Broadwell.

    我們有一些東西,第一季度有十幾個系統將在 Broadwell 上發布。

  • You saw us introduce RealSense at CES.

    您看到我們在 CES 上介紹了 RealSense。

  • We have I think seven or eight systems in the first quarter coming out with RealSense and that combination.

    我認為第一季度有七八個系統推出了 RealSense 和這種組合。

  • So I look at the amount of innovation, all of the OSes were on and the availability and really optionality a consumer has for OS or an enterprise, and the price points.

    因此,我查看了創新的數量、所有操作系統的可用性以及消費者對操作系統或企業的可用性和真正的可選性,以及價格點。

  • You've got PCs from Chromebooks down to $199, Windows systems $249 all the way up from there to the real innovative systems like Sprout.

    PC 從 Chromebook 降到 199 美元,Windows 系統從那裡一直到 249 美元,再到真正的創新系統,如 Sprout。

  • I look at it and say that the innovation and the options in the PC market have never been better, so I'm feeling pretty good about where we are in the PC market.

    我看著它說 PC 市場的創新和選擇從未像現在這樣好,所以我對我們在 PC 市場所處的位置感覺很好。

  • If you remember, our forecast is based, even still on flat units, and a slight decrease in ASP, so we're still even though I've told you all of this innovation and there's that, we still have been relatively conservative, and said that it's a flat unit year, and a slight decline even in ASPs, given that.

    如果你還記得的話,我們的預測是基於,即使仍然是持平單位,平均售價略有下降,所以即使我已經告訴你所有這些創新,我們仍然相對保守,而且表示這是一個持平的單位年,甚至平均售價也略有下降,鑑於此。

  • - CFO

    - CFO

  • And if I can just emphasize one point on Q4, I think we characterized it as pretty normal from an end demand standpoint.

    如果我只能強調第四季度的一點,我認為從最終需求的角度來看,我們將其描述為非常正常。

  • We undershipped demand some in Q4, so there was an inventory burn.

    我們在第四季度的一些需求不足,因此出現了庫存消耗。

  • What we now think happened as we look back is there was a bit of inventory, particularly Bay Trail, lower end systems when we started the quarter, that led to some weakness in the first few weeks, and then it caught back up as we worked our way through the quarter and burned through that inventory, and then we saw it behave a bit more normally from a shipment pattern.

    當我們回顧過去時,我們現在認為發生的事情是有一些庫存,特別是 Bay Trail,我們在本季度開始時的低端系統,這導致前幾週出現一些疲軟,然後在我們工作時又恢復了我們通過這個季度的方式並消耗了該庫存,然後我們看到它從發貨模式中表現得更正常一些。

  • - Analyst

    - Analyst

  • Really helpful, guys.

    真的很有幫助,伙計們。

  • Thanks so much, and good luck.

    非常感謝,祝你好運。

  • Operator

    Operator

  • The next question comes from David Wong from Wells Fargo.

    下一個問題來自富國銀行的 David Wong。

  • - Analyst

    - Analyst

  • Thanks very much.

    非常感謝。

  • You talked about blocking and tackling to bring down CapEx, but your $10 billion 2014 CapEx and then your 2015 plan is almost $1 billion below $10.7 billion to $11 billion in every year 2011 to 2013.

    你談到了阻止和解決以降低資本支出,但你的 2014 年資本支出為 100 億美元,然後你的 2015 年計劃比 2011 年至 2013 年每年的 107 億美元至 110 億美元低近 10 億美元。

  • So are you actually on a permanently higher level of capital efficiency?

    那麼,您實際上是否處於永久較高的資本效率水平?

  • And if that's the case, what would your long term CapEx as a percent of revenue be?

    如果是這樣的話,您的長期資本支出佔收入的百分比是多少?

  • - CFO

    - CFO

  • I'll say, David, the fact that we were at $10 billion in 2014 and we're at $10 billion in 2015 doesn't change my long term view.

    我會說,大衛,我們在 2014 年達到 100 億美元,在 2015 年達到 100 億美元,這一事實並沒有改變我的長期觀點。

  • If you think about what I showed in the investor meeting, I showed we've kind of been between $10 billion and $11 billion we're at the low end of that for a couple of years.

    如果你想想我在投資者會議上展示的內容,我展示了我們已經在 100 億美元到 110 億美元之間,我們處於低端已經有幾年了。

  • I still think that's the right range for us.

    我仍然認為這對我們來說是正確的範圍。

  • Within that, two-thirds to three-quarters is manufacturing capacity related, and then the rest is non-manufacturing CapEx.

    其中,三分之二至四分之三與製造能力相關,其餘為非製造資本支出。

  • - Analyst

    - Analyst

  • Okay, great.

    好,太棒了。

  • And when do you expect to offer 10-nanometer capability to foundry customers?

    您希望什麼時候為代工客戶提供 10 納米的能力?

  • - CEO

    - CEO

  • We are timing on 10-nanometers.

    我們在 10 納米上計時。

  • I'm not going to come out with when we will be introducing our 10-nanometer to the marketplace in general, probably until the end of this year, so we'll give -- as we go through the year, probably by the investor meeting in November, we'll give you an outlook on how and what timing is for 10-nanometers.

    我不會說出我們什麼時候將我們的 10 納米引入一般市場,可能要到今年年底,所以我們會給出 - 隨著我們度過這一年,可能由投資者提供在 11 月的會議上,我們將向您展示 10 納米的發展方式和時機。

  • - Analyst

    - Analyst

  • Thanks very much.

    非常感謝。

  • Operator

    Operator

  • The next question comes from Stacy Rasgon from Sanford Bernstein.

    下一個問題來自 Sanford Bernstein 的 Stacy Rasgon。

  • - Analyst

    - Analyst

  • I think first I just want to, it sounds like the slightly weaker PC volume you saw in Q4 is not changing your 2015 of the market at all.

    我想首先我只是想,聽起來您在第四季度看到的略微疲軟的 PC 銷量並沒有改變您 2015 年的市場。

  • If the inventory burn that you saw in the channel was at the low end, we saw ASPs come up because you were losing some of that low end shipment.

    如果您在渠道中看到的庫存消耗處於低端,我們就會看到平均售價上升,因為您正在損失一些低端出貨量。

  • What does that suggest for your ASP trend next quarter, as potentially those -- I guess after you see those inventory trends going back the other way, and what does that mean for pricing as we move into the next quarter, does the low end start to come back for you?

    這對你下個季度的 ASP 趨勢有什麼暗示,可能是那些 - 我想在你看到這些庫存趨勢以另一種方式回歸之後,這對我們進入下個季度的定價意味著什麼,低端開始了嗎回來找你?

  • - CFO

    - CFO

  • I'll take that.

    我會接受的。

  • So first off, I'll say the ASP good news that we saw in Q4 really had three elements to it.

    所以首先,我要說我們在第四季度看到的 ASP 好消息確實包含三個要素。

  • One element was the fact that we saw some inventory burn on Bay Trail, so our mix with the notebooks was a little bit higher.

    一個因素是我們在 Bay Trail 看到了一些庫存消耗,因此我們與筆記本電腦的組合要高一些。

  • Think of that in rough numbers, that's about a third of it.

    粗略地想一想,大約是三分之一。

  • And about two-thirds of it is associated with server.

    其中大約三分之二與服務器相關。

  • We just had a very strong quarter in terms of server, and our server mix is starting to look better, starting to improve some, so that's about two-thirds of it.

    我們剛剛在服務器方面有一個非常強勁的季度,我們的服務器組合開始看起來更好,開始改進一些,所以這大約是三分之二。

  • In terms of the impact on Q1, it's not jumping out on the margin recon, so you should take from that we're expecting pretty benign ASP environment as we go into the year, and it also doesn't pump out on the year recon, so it's not a big driver of gross margin next year, based on what we can see today.

    就對第一季度的影響而言,它並沒有在利潤率調查中跳出來,所以你應該從我們期待的 ASP 環境中獲益,因為我們進入了這一年,而且它也沒有在年度調查中抽出,因此根據我們今天所看到的情況,這不是明年毛利率的主要推動力。

  • - Analyst

    - Analyst

  • Got it, and for my follow-up, I want to ask a maybe more general question on 14 versus 22.

    明白了,對於我的後續行動,我想問一個關於 14 和 22 的可能更籠統的問題。

  • So for 14-nanometers, you've shown a lot of charts showing normalized cost per transistor dropping below trend.

    因此,對於 14 納米,您展示了很多圖表,顯示每個晶體管的標準化成本低於趨勢。

  • Obviously wafer cost is going up quite a bit, but your density seems to be increasing even faster, and that's going down, but that's a normalized basis.

    顯然晶圓成本上升了很多,但你的密度似乎增加得更快,而且還在下降,但這是一個正常的基礎。

  • At the same time we've had yields that obviously have taken a bit longer to get into play, so we have factory ramps that seem to be hitting more than normal in the first half of the year.

    與此同時,我們的收益率顯然需要更長的時間才能發揮作用,因此我們的工廠坡道似乎在今年上半年達到了比正常水平更高的水平。

  • Would you say the all-in costs of the lifetime of 14-nanometers actually is going to turn out to be lower than the all-in cost of 22?

    你會說 14 納米壽命的總成本實際上會低於 22 納米的總成本嗎?

  • - CFO

    - CFO

  • Stacy, I would take you back to the graph I showed at the investor meeting, because I actually, a non-normalized cost that showed Broadwell relative to other products at the same stage of manufacturing, and so what that chart shows is that sure enough, in the first half of this year, so the early stage of the Broadwell ramp, because of some of the yield issues that we've talked about, it is higher.

    Stacy,我會帶你回到我在投資者會議上展示的圖表,因為我實際上是一個非標準化成本,它顯示了 Broadwell 相對於處於同一製造階段的其他產品,所以該圖表顯示的是肯定的,在今年上半年,所以布羅德韋爾斜坡的早期階段,因為我們談到的一些良率問題,它更高。

  • It's on a non-normalized basis, it's a higher cost, but by the time we get into the back half of the year on a non-normalized basis, Broadwell actually is less expensive than those other products at the same stage of their life.

    它是在非標準化的基礎上,成本更高,但當我們在非標準化的基礎上進入下半年時,Broadwell 實際上比其他處於同一生命階段的產品更便宜。

  • - Analyst

    - Analyst

  • So you think if I integrate that curve over the lifetime, the integral will be lower?

    所以你認為如果我在整個生命週期內對該曲線進行積分,積分會更低嗎?

  • - CEO

    - CEO

  • Stacy, we'll go ahead and answer that question, but I want to remind you we're trying to take two questions per person please.

    Stacy,我們將繼續回答這個問題,但我想提醒你,我們正在嘗試每人回答兩個問題。

  • - Analyst

    - Analyst

  • Sure, thank you.

    當然,謝謝。

  • - CFO

    - CFO

  • So I haven't done a volume-weighted ramping or volume-weighted cost comparison.

    因此,我沒有進行體積加權爬升或體積加權成本比較。

  • I just looked at it in the curves that I showed you, so I guess a lot depends on how much volume happens after we get to that point of parity and improvement.

    我只是在我展示給你們的曲線中看到了它,所以我想這在很大程度上取決於我們達到平衡點和改進點之後發生的數量。

  • But I think that the cost per transistor and the fact that we are investing that in lower die sizes and more features, we think we're getting super high performance and very cost effective product on 14-nanometer.

    但我認為每個晶體管的成本以及我們正在投資於更小的芯片尺寸和更多功能的事實,我們認為我們正在 14 納米上獲得超高性能和非常具有成本效益的產品。

  • - Analyst

    - Analyst

  • Got it.

    知道了。

  • Thank you.

    謝謝你。

  • Operator

    Operator

  • The next question comes from Ruben Roy from Piper Jaffrey.

    下一個問題來自 Piper Jaffrey 的 Ruben Roy。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝你。

  • First question for Brian.

    布賴恩的第一個問題。

  • Just around SoFIA, and some of the commentary that you had on expectations for a solid ramp in the second half.

    就在 SoFIA 周圍,以及您對下半場穩定增長的預期中的一些評論。

  • Just qualified internally I believe, is the chip qualified on network, and can you talk about design win traction at this point?

    我相信只是內部合格,芯片是否在網絡上合格,此時你能談談設計贏得牽引力嗎?

  • - CEO

    - CEO

  • Sure, so we have -- let me start, there's a series of SoFIA products.

    當然,我們有——讓我開始,有一系列 SoFIA 產品。

  • The first of the products is the SoFIA 3G, which is -- basically has a 3G modem.

    第一個產品是 SoFIA 3G,基本上有一個 3G 調製解調器。

  • The second product will be SoFIA LTE, LTE modem.

    第二個產品將是 SoFIA LTE,LTE 調製解調器。

  • Ad what we said was the 3G modem version, the SoFIA 3G has finished its internal qualification, which means that we've gone through and made sure that the apps processor is fully functional and the modem is working, all of that work is done, and it's electrically and logically functional.

    我們說的是 3G 調製解調器版本,SoFIA 3G 已經完成了內部認證,這意味著我們已經完成並確保應用程序處理器功能齊全並且調製解調器可以正常工作,所有這些工作都已完成,它具有電氣和邏輯功能。

  • We are in the process now, and we've got several design wins, and I'm just never able to go and tell you, but it's with all of our major OEMs and partners plus some.

    我們現在正在這個過程中,我們已經贏得了幾項設計,我永遠無法告訴你,但它與我們所有的主要原始設備製造商和合作夥伴以及一些。

  • We are in the process now of going out to the carriers and getting the carrier certifications, and that's why we said actually -- that's the time difference between ramping a product or qualifying the product in Q4 internally, and before our customers can ramp in the first half, is a lot of that qualification and getting it out there for the rest of the world.

    我們現在正在與運營商聯繫並獲得運營商認證,這就是為什麼我們實際上說 - 這是在第四季度內部提升產品或合格產品之間的時間差,以及在我們的客戶可以提升之前上半場,有很多資格,並為世界其他地區提供。

  • Same thing will happen, we said we would qualify internally in the first half the LTE, with the ramp of the second half, it's that same process that's going to occur.

    同樣的事情會發生,我們說我們將在 LTE 的上半年進行內部資格認證,隨著下半年的發展,這將是相同的過程。

  • - Analyst

    - Analyst

  • Thank you for that, Brian.

    謝謝你,布賴恩。

  • Just a quick follow-up for Stacy on the data center side.

    只是在數據中心方面對 Stacy 進行快速跟進。

  • Solid year for ASP growth, and I think over the last few years, you've been averaging mid to high single digit ASP growth.

    ASP 增長穩固的一年,我認為在過去幾年中,您的平均 ASP 增長率一直處於中高個位數。

  • Can you talk a little bit about the drivers behind that, and if you think that's sustainable over the next couple of years?

    你能談談這背後的驅動因素嗎?如果你認為這在未來幾年內是可持續的?

  • Thanks.

    謝謝。

  • - CFO

    - CFO

  • Yes, so I think I said in the past, I'd view ASP growth in the data center product line as being much more akin to capacity additions.

    是的,所以我想我過去說過,我認為數據中心產品線的 ASP 增長更類似於容量增加。

  • So as the performance of the machines go up, as people move up in terms of one-way servers to two-way to four-way servers, what we see that as a increase in ASP, but it really is from the standpoint of a CIO, an increase in capacity that they go and buy.

    因此,隨著機器性能的提高,隨著人們在單向服務器方面的升級,從雙向到四向服務器的升級,我們認為這是 ASP 的增加,但實際上是從CIO,他們去購買的容量增加了。

  • How sustainable it will be, I don't know, but it is a segment of the market where as we bring technology in and that technology brings benefit to the customers, and increases their capacity and decreases their operate costs, we get paid for advancing technology faster than others can do it.

    它的可持續性如何,我不知道,但它是市場的一部分,當我們引入技術並且技術為客戶帶來利益,並增加他們的能力並降低他們的運營成本時,我們會因推進而獲得報酬技術比其他人更快。

  • I don't know, Brian, if you want to add anything to that?

    我不知道,布賴恩,你是否想補充什麼?

  • - CEO

    - CEO

  • I think you covered it well.

    我認為你涵蓋得很好。

  • - Analyst

    - Analyst

  • Thanks.

    謝謝。

  • Operator

    Operator

  • The next question comes from John Pitzer from Credit Suisse.

    下一個問題來自瑞士信貸的 John Pitzer。

  • - Analyst

    - Analyst

  • Nice job on the quarter.

    本季度幹得好。

  • My first question, Stacy is a follow-up on gross margins.

    我的第一個問題,Stacy 是毛利率的後續行動。

  • You've given us Q1, and you've told us second half is going to be above the full year guide at 62.

    你給了我們第一季度,你告訴我們下半年將高於全年指南 62。

  • I'm kind of curious, relative to how you see the first half playing out, is Q1 going to be the trough, or do you have more non-operational things like start-up costs in the June quarter that could actually have gross margins go down again sequentially in June, before rebounding in the second half?

    我有點好奇,相對於你如何看待上半年的結果,第一季度會是低谷嗎,或者你是否有更多非運營性的東西,比如 6 月季度的啟動成本實際上可能有毛利率6 月份再次連續下跌,然後在下半年反彈?

  • - CFO

    - CFO

  • Yes, I'm not sitting on a bunch of bad news for Q2, so I would expect Q1 to be the trough for the year.

    是的,我並沒有坐視第二季度的一大堆壞消息,所以我預計第一季度將是今年的低谷。

  • - Analyst

    - Analyst

  • That's helpful.

    這很有幫助。

  • And then for my follow-up, Brian, one of the things that happened when PC penetration slowed was that mix actually got better, than I think a lot of us from the outside looking in thought.

    然後對於我的後續行動,布賴恩,當 PC 普及率放緩時發生的事情之一是混合實際上變得更好,比我認為我們很多人從外面看在思想中。

  • Do you think that now the tablet penetration growth seems to be slowing, that we could see some stabilization of mix or even some mix up, or how do you view the tablet market as unit growth begins to slow relative to mix?

    您是否認為現在平板電腦滲透率增長似乎正在放緩,我們可以看到混合穩定甚至混合,或者您如何看待平板電腦市場,因為單位增長相對於混合開始放緩?

  • - CEO

    - CEO

  • That's an interesting question, John.

    這是一個有趣的問題,約翰。

  • I think almost like the PC, if you really look back at the PC, the PC began to bifurcate.

    我覺得幾乎和PC一樣,如果你真的回頭看PC,PC開始分叉了。

  • You did see systems coming in at lower and lower price points, right?

    您確實看到系統的價格越來越低,對嗎?

  • And you saw kind of the bottom of the PC market go from the $500 range to, as we said now, you can go out there and get a good system, $249 all the way down to $199 with Chrome.

    你看到個人電腦市場的底部從 500 美元的範圍下降到,正如我們現在所說的,你可以去那裡得到一個好的系統,從 249 美元一直到 199 美元,帶 Chrome。

  • I think, and then you saw at the same time, as you said, we saw record Core i7 and the gaming PCs are hitting record levels, and so the high end did very well, as well, and we've been working on filling in that middle.

    我想,然後你同時看到,正如你所說,我們看到創紀錄的 Core i7 和遊戲 PC 達到創紀錄的水平,所以高端也做得很好,我們一直在努力填補在那個中間。

  • I think the same thing is going to happen on tablets.

    我認為平板電腦上也會發生同樣的事情。

  • You are going to see a robust low end of the tablets.

    您將看到平板電腦的強勁低端。

  • I go to Shenzhen, I see what's coming out of China right now, and there's some good low-cost tablets that are going to come out and continue to drive probably that average ASP system down into the sub-$100 range.

    我去了深圳,我看到了中國現在正在發生的事情,並且有一些好的低成本平板電腦即將問世,並可能繼續將平均 ASP 系統推低至低於 100 美元的範圍。

  • At the same time, I think you see systems that -- we've got them coming with all of our major OEMs, Lenovo, Dell, HP, systems with real innovation, things like the RealSense snapshot, thinner and lighter, longer battery life, better screens, edge to edge screens, people are willing, if you bring the innovation, a $399 tablet, maybe $299 to $399 tablet is not an unreasonable price if you bring the performance or capability that's new and innovative.

    與此同時,我想你會看到系統——我們已經將它們與我們所有主要的 OEM,聯想、戴爾、惠普一起推出,具有真正創新的系統,如 RealSense 快照、更薄、更輕、電池壽命更長,更好的屏幕,邊緣到邊緣的屏幕,人們願意,如果你帶來創新,399 美元的平板電腦,如果你帶來新的和創新的性能或功能,也許 299 美元到 399 美元的平板電腦不是一個不合理的價格。

  • So I think we'll get that same kind of effect, yes, in the tablet space that we saw in the PC space as well.

    所以我認為我們會在平板電腦領域獲得與我們在 PC 領域看到的相同的效果。

  • - Analyst

    - Analyst

  • Perfect, thanks, appreciate it.

    完美,謝謝,欣賞。

  • Operator

    Operator

  • The next question comes from Ross Seymore from Deutsche Bank.

    下一個問題來自德意志銀行的 Ross Seymore。

  • - Analyst

    - Analyst

  • Thanks for letting me ask a question.

    謝謝你讓我問一個問題。

  • Stacy, a couple for you actually.

    史黛西,實際上是一對夫婦。

  • The first one is on full year R&D spend.

    第一個是全年研發支出。

  • It looks like you're growing that in line to slightly even faster than the midpoint of the revenue side of things.

    看起來你正在以比收入方面的中點更快的速度增長。

  • Can you just give us a little bit of detail why the R&D is going to be up about 6% year-over-year, especially given that it's either the tick or the tock year where some of the expense goes up into COGS?

    你能不能給我們一些細節,為什麼研發將同比增長約 6%,特別是考慮到它是一些費用進入 COGS 的 tick 年或 tock 年?

  • - CFO

    - CFO

  • Yes, there's two things to point to.

    是的,有兩點要指出。

  • So first of all, we are making increases in R&D investment, in areas where Brian and I have looked, and believe we're going to get a significant pay off on those investments.

    所以首先,我們正在增加研發投資,在布賴恩和我看過的領域,相信我們將從這些投資中獲得可觀的回報。

  • So specifically, Data Center Group, the Internet of Things Group and a bit more towards process technology.

    具體來說,數據中心組、物聯網組以及更多的過程技術。

  • And we're offsetting some of that with decreases in investment in other areas that you've seen, the MCG segment being top of that list, and some efficiencies across our product engineering group.

    我們正在通過減少您所看到的其他領域的投資來抵消部分損失,MCG 細分市場位居榜首,並且我們產品工程團隊的效率有所提高。

  • I'd also point to the second phenomenon which is the acquisition of Axxia, which is going into the Data Center Group and increases our product, or improves our product portfolio there, and the networking space is bringing along some R&D costs associated with that.

    我還要指出第二種現象,即收購 Axxia,它進入數據中心集團並增加我們的產品,或改善我們在那裡的產品組合,而網絡空間帶來了一些與之相關的研發成本。

  • And so that's part of what is adding to the R&D spending next year.

    因此,這是明年研發支出增加的一部分。

  • - Analyst

    - Analyst

  • I guess as my follow on, and somewhat similar, we talked a little bit about this at CES, but Stacy, wanted to get your view, Broadwell is launching in the fourth quarter and then starting to ramp now, Skylake, it sounds like you want to continue to have that be on time in the early part of the second half of this year.

    我想作為我的後續,有點相似,我們在 CES 上談了一點這個,但是 Stacy,想听聽你的看法,Broadwell 將在第四季度推出,然後現在開始增加,Skylake,聽起來像你希望在今年下半年早些時候繼續按時完成。

  • To the extent the Broadwell duration is shorter than normal, what sort of business implications, whether it be on revenue, the COGS, et cetera, line should we think of to hit the financials throughout the year?

    如果 Broadwell 的持續時間比正常情況短,我們應該考慮什麼樣的業務影響,無論是收入、COGS 等等,以影響全年的財務狀況?

  • - CEO

    - CEO

  • This is Brian.

    這是布萊恩。

  • Let me first answer how we are looking at this.

    讓我首先回答我們是如何看待這個問題的。

  • We aren't going to slow Skylake down.

    我們不會放慢 Skylake 的速度。

  • We said it would be the second half of this year.

    我們說這將是今年下半年。

  • I don't want to slow it down because it brings a lot of innovation, and a lot of new capability to this market.

    我不想放慢它的速度,因為它為這個市場帶來了很多創新和很多新功能。

  • We think we've managed between the SKUs of what SKUs we're bringing out on Broadwell to really refresh the two in one devices, the Chromebooks, we wanted to bring Core M out, which I think in the first part of this year with the Chinese New Year, the back-to-school season, having these super thin and light devices is going to be critical so missing that by doing something else with Broadwell would have been a mistake.

    我們認為我們已經在我們在 Broadwell 上推出的 SKU 之間進行了管理,以真正刷新二合一設備 Chromebook,我們想推出 Core M,我認為這將在今年上半年推出中國新年,返校季,擁有這些超輕薄設備將是至關重要的,因此如果錯過 Broadwell 做其他事情將是一個錯誤。

  • I think getting that volume is a good thing.

    我認為獲得該數量是一件好事。

  • We think we've managed the transition on the number of SKUs that Broadwell will have, and how it will transition the market to Skylake now, moving forward.

    我們認為我們已經管理了 Broadwell 將擁有的 SKU 數量的過渡,以及它將如何將市場過渡到 Skylake 現在,向前發展。

  • From a margin or COGS standpoint, but remember they are on the same technology, so the same piece of silicon, it's the same factory, all we do is change the piece of glass in the scanner to get a different product, so there's not a change or revamp of our factory that needs to occur for this.

    從保證金或 COGS 的角度來看,但請記住它們採用相同的技術,所以是同一塊矽片,是同一家工廠,我們所做的只是更換掃描儀中的玻璃片以獲得不同的產品,所以沒有為此需要改變或改造我們的工廠。

  • - CFO

    - CFO

  • That last point is important.

    最後一點很重要。

  • They're both 14-nanometer products for us, so it doesn't change our factory profile, and just generally, the faster we bring out new features and cool stuff to the market, the better off we are, so we are not planning to slowdown Skylake, if that was at the heart of your question.

    它們對我們來說都是 14 納米產品,所以它不會改變我們的工廠概況,而且一般來說,我們向市場推出新功能和酷東西的速度越快,我們就越好,所以我們沒有計劃放慢 Skylake 的速度,如果那是您問題的核心。

  • - Analyst

    - Analyst

  • Great, thank you.

    太好了謝謝。

  • Operator

    Operator

  • The next question comes from CJ Muse from Evercore ISI.

    下一個問題來自 Evercore ISI 的 CJ Muse。

  • - Analyst

    - Analyst

  • I guess first question, Brian, I wanted to I guess clarify a comment you made earlier.

    我想第一個問題,布賴恩,我想我想澄清一下你之前發表的評論。

  • I think you said that you were driving $800 million out of the business in mobility in 2015, including reorg to drive efficiencies, and I guess my question here is, does that include also the benefit of lower contra revenues?

    我想你說你在 2015 年從移動業務中減少了 8 億美元,包括重組以提高效率,我想我的問題是,這是否也包括較低的對銷收入的好處?

  • - CEO

    - CEO

  • Yes.

    是的。

  • - CFO

    - CFO

  • That's an all-in number.

    那是一個全押數字。

  • - CEO

    - CEO

  • So it's the efficiencies we'll gain from the organizational structure, we're doing continued, just I'll call it fundamental cost reduction, getting the right P mix in there, reducing the board count, board layers, that kind of, I'll call basic engineering and the introduction -- the increased percentage of Bay Trail cost reduction at the beginning, and then introduction of SoFIA in the second half, which has no contra revenue, so you've put all of those together, and they will add up to that $800 million.

    所以這是我們將從組織結構中獲得的效率,我們正在繼續做,我稱之為基本成本降低,在那裡獲得正確的 P 組合,減少董事會數量,董事會層數,我將稱為基礎工程和引入——開始時 Bay Trail 成本降低百分比的增加,然後在下半年引入 SoFIA,它沒有相反的收入,所以你把所有這些放在一起,他們總計將達到 8 億美元。

  • - CFO

    - CFO

  • And the ramp of LTE.

    以及 LTE 的發展。

  • - Analyst

    - Analyst

  • Great and then I guess as my follow-up, can you provide some additional color on the Rockchip and Spreadtrum side, would love to hear what milestones perhaps we should be watching for?

    太好了,然後我想作為我的後續行動,你能在 Rockchip 和 Spreadtrum 方面提供一些額外的顏色嗎,很想听聽我們應該關注哪些里程碑?

  • - CEO

    - CEO

  • Let's start with Rockchip.

    讓我們從瑞芯微開始。

  • On Rockchip, we've actually been working with them on their first design, and it's an enhancement to the 3G, so it's SoFIA 3GR, you'll see it.

    在 Rockchip 上,我們實際上一直在與他們合作進行他們的第一個設計,它是對 3G 的增強,所以它是 SoFIA 3GR,你會看到它。

  • Its got some enhancements to the graphics and some other functionality.

    它對圖形和一些其他功能進行了一些增強。

  • I think you'll see that in 2015, they've already got their first silicon out.

    我想你會在 2015 年看到,他們已經推出了他們的第一個矽片。

  • You'll have to go talk to them, again part of it is they have a certain level of independence, they are going to ramp and launch that product when they feel ready, but it's -- the first silicon is out, and going out there validation and certification, so we're right on schedule.

    你必須去和他們談談,部分原因是他們有一定程度的獨立性,他們會在他們覺得準備好時推出並推出該產品,但它是 - 第一個矽已經出來了,然後出去了有驗證和認證,所以我們按時進行。

  • I'd say actually we're slightly ahead of schedule with Rockchip and we'll continue to bring designs, and next we'll move to LTE just like ours, and then keep moving on, just right in line with ours, just a little bit -- maybe a quarter or two after our exemplary product as well.

    我想說實際上我們在 Rockchip 上稍微提前了一點,我們將繼續帶來設計,接下來我們將像我們的一樣轉向 LTE,然後繼續前進,正好與我們的一致,只是一個一點點——也許在我們的模範產品之後一兩個季度。

  • From Spreadtrum, that deal closed more in the second half of the year.

    來自 Spreadtrum,該交易在今年下半年完成了更多。

  • We've started to work with them with the product definitions done, we're working on exactly what their SoFIA will look like, and we'll progress through that through this year.

    我們已經開始與他們合作完成產品定義,我們正在研究他們的 SoFIA 的外觀,我們將在今年取得進展。

  • But the relationship and the model of having them produce SoFIA derivatives with additional features or additional capabilities targeted toward their specific market and channels is exactly the same methodology that we'll take.

    但是,讓他們生產具有針對其特定市場和渠道的附加功能或附加功能的 SoFIA 衍生品的關係和模型與我們將採用的方法完全相同。

  • - Analyst

    - Analyst

  • Very helpful.

    非常有幫助。

  • Thank you.

    謝謝你。

  • - CFO

    - CFO

  • Thanks, CJ.

    謝謝,希傑。

  • Operator, we'll go ahead and take two more questions, please.

    接線員,我們將繼續,請再回答兩個問題。

  • Operator

    Operator

  • The next question comes from Matt Ramsey from Canaccord Genuity.

    下一個問題來自 Canaccord Genuity 的 Matt Ramsey。

  • - Analyst

    - Analyst

  • Thank you very much for taking my question.

    非常感謝你回答我的問題。

  • Brian, I wanted to ask on DCG, obviously a really big quarter in December, up about $1 billion dollars from the March quarter apparently you talked a bit about it being lumpy with the cloud customers, maybe you can talk about what part of that big jump in revenue from September to December was from first-time purchases of Grantley, and I guess the longer term question I'm asking is the health of the enterprise server market, relative to some weaker trends we saw earlier in the year and the recovery in the back half of 2014.

    布賴恩,我想問一下 DCG,顯然 12 月份是一個非常大的季度,比 3 月份的季度增加了大約 10 億美元,顯然你談到了它與雲客戶的關係,也許你可以談談那個大的部分9 月至 12 月的收入增長來自首次購買 Grantley,我想我要問的長期問題是企業服務器市場的健康狀況,相對於我們在今年早些時候看到的一些疲軟趨勢和復蘇2014年下半年。

  • Thanks.

    謝謝。

  • - CFO

    - CFO

  • This is Stacy, we aren't going to get that granular, I don't think, Matt, in terms of the break out of the DCG revenue.

    這是斯泰西,我們不會那麼細化,我不認為,馬特,就 DCG 收入的突破而言。

  • I would say what we saw in Q4 was, we saw strength in enterprise and then we continued to see those robust growth rates in cloud and networking and data analytics.

    我想說我們在第四季度看到的是,我們看到了企業的實力,然後我們繼續看到雲、網絡和數據分析領域的強勁增長。

  • Beyond that, I'm not going to break it out.

    除此之外,我不會打破它。

  • - Analyst

    - Analyst

  • Fair enough and Brian, as a follow-up in the mobile group, obviously great work in hitting the target on the tablet units.

    公平地說,布賴恩作為移動組的後續行動,顯然在平板電腦上達到目標方面做得很好。

  • Maybe you could talk a little bit about the market reception and the health of the channel for those products, particularly since a lot of those are Chinese OEMs with the set up for Chinese New Year on the tablet side?

    或許你可以談談這些產品的市場接受度和渠道的健康狀況,特別是因為其中很多都是中國 OEM 廠商,他們準備在平板電腦方面迎接農曆新年?

  • Thanks.

    謝謝。

  • - CEO

    - CEO

  • Sure.

    當然。

  • Let's see, I can tell you that the market reception in the channel so far for the Intel tablets has been very strong.

    讓我們看看,我可以告訴你,到目前為止,英特爾平板電腦在渠道中的市場反響非常好。

  • There's a strong brand value just in the Intel tied to a tablet, no matter who is the manufacturer.

    無論製造商是誰,與平板電腦相關的英特爾都具有強大的品牌價值。

  • The tablets we've made with Lenovo and Dell, and many of the -- I'll call it major OEMs, have been selling very well, and you saw the great reception, the Dell Venue 8 for example, 7000 got at CES.

    我們與聯想和戴爾以及許多——我稱之為主要原始設備製造商一起生產的平板電腦一直賣得很好,你看到了很好的反響,例如戴爾 Venue 8,7000 在 CES 上獲得了好評。

  • I'll call it the more broad products that are coming out of China, more of the Shenzhen marketplace, so far they've been selling quite well.

    我會稱之為來自中國的更廣泛的產品,更多的是深圳市場,到目前為止它們一直賣得很好。

  • And the number I'd say the number of OEMs that are working with us in that space and the amount of innovation and breadth that they are bringing to these products has surpassed even what our expectations were.

    我想說的是,在該領域與我們合作的原始設備製造商數量,以及他們為這些產品帶來的創新數量和廣度,甚至超出了我們的預期。

  • And as we show them things like RealSense and WiDi and WiGig, all these capabilities both from the tablet and PC space, we are seeing a lot of innovation coming out of that Chinese market, Chinese manufacturer space.

    當我們向他們展示諸如 RealSense、WiDi 和 WiGig 之類的東西時,所有這些來自平板電腦和 PC 領域的功能,我們看到許多創新來自中國市場,中國製造商領域。

  • - Analyst

    - Analyst

  • Thank you very much.

    非常感謝。

  • - CFO

    - CFO

  • Thanks, Matt.

    謝謝,馬特。

  • Operator, please go ahead and introduce our last questioner.

    接線員,請介紹一下我們最後一位提問者。

  • Operator

    Operator

  • The final question comes from Vivek Arya from Bank of America Merrill Lynch.

    最後一個問題來自美銀美林的 Vivek Arya。

  • - Analyst

    - Analyst

  • Thank you for taking my question.

    謝謝你提出我的問題。

  • My first one, Brian how important is the recovery in emerging markets to maintaining your expectations for a flattish PC growth, and how are you balancing the push there in terms of the low cost tablets versus PCs?

    我的第一個問題,布賴恩,新興市場的複蘇對於維持您對 PC 平穩增長的預期有多重要,您如何平衡低成本平板電腦與 PC 的推動?

  • - CEO

    - CEO

  • Sure, so if you remember, Vivek, what we said for the year is we would be roughly flat in units.

    當然,如果你還記得,Vivek,我們今年所說的是我們的單位大致持平。

  • We also forecasted a roughly similar worldwide economic or worldwide demand scenario is what we're seeing today, so we did not build in a big recovery or a big resurgence of the emerging markets into our 2015 model, so we are not dependent on an emerging market recovery or return, in order to make our numbers for 2015.

    我們還預測了我們今天所看到的大致相似的全球經濟或全球需求情況,因此我們沒有將新興市場的大復蘇或大復蘇納入我們的 2015 年模型,因此我們不依賴於新興市場市場復甦或回歸,以便為我們 2015 年的數字做出貢獻。

  • The next question you asked is what about tablets, and the low end tablet, and I'd really say that it's the low end tablet and the emergence of the phablet in that space versus the PC, and we think that if I took a look at that, the phablet is probably taking a little bit more out of the tablet than the PC.

    你問的下一個問題是平板電腦和低端平板電腦,我真的會說這是低端平板電腦和平板手機在該領域的出現與 PC 相比,我們認為如果我看一下就此而言,平板手機可能比 PC 從平板電腦中獲得更多的收益。

  • I think people still are going to use the PC for their high-end usages, when they have to have a keyboard, when they have to have the higher end compute.

    我認為人們仍然會將 PC 用於他們的高端用途,當他們必須有鍵盤時,當他們必須有更高端的計算時。

  • And for the low end, kind of I want to look at the material, I want to watch a video, I want to scan my data, the phablet and tablet are battling it out for the user in that space, I'd say.

    對於低端,我想看材料,我想看視頻,我想掃描我的數據,平板手機和平板電腦正在為那個領域的用戶而戰,我會說。

  • And you can see the large growth that's occurring in the phablets in the emerging markets.

    你可以看到新興市場平板手機的大幅增長。

  • So bottom line, we are not expecting an emerging market recovery, we're not building our forecast on that, and so that's why we're feeling comfortable with our current PC forecast.

    所以歸根結底,我們並不期待新興市場復甦,我們也沒有以此為基礎做出預測,這就是為什麼我們對當前的 PC 預測感到滿意。

  • - Analyst

    - Analyst

  • And just as a quick follow-up, you mentioned the ramp in discrete LTE, I know you've done very well at Samsung, any more progress there?

    作為快速跟進,你提到了離散 LTE 的發展,我知道你在三星做得很好,還有什麼進展嗎?

  • And just the broadly customer diversification on your LTE chip for this year, thank you.

    還有今年 LTE 芯片的廣泛客戶多樣化,謝謝。

  • - CEO

    - CEO

  • Yes, we continue to win other customers.

    是的,我們繼續贏得其他客戶。

  • We don't talk about customers until the products are launched, but we're pretty comfortable with the design wins we're getting.

    在產品推出之前,我們不會談論客戶,但我們對我們獲得的設計勝利感到非常滿意。

  • You see it, there's some in Samsung, there's some at Lenovo, you'll see them coming into Rockchip and Spreadtrum in the second half of the year with their products, their SoFIA products, and there's several others.

    你看,三星有一些,聯想有一些,你會看到他們在今年下半年帶著他們的產品進入 Rockchip 和 Spreadtrum,他們的 SoFIA 產品,還有其他幾個。

  • We just aren't going to talk about those, until they're ready to announce the products.

    在他們準備好發布產品之前,我們不會談論這些。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝你。

  • - CFO

    - CFO

  • Thanks, Vivek.

    謝謝,維維克。

  • 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,請繼續並結束通話。

  • Operator

    Operator

  • 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.

    你們都可以斷開連接。

  • Have a good day.

    祝你有美好的一天。