高通 (QCOM) 2003 Q3 法說會逐字稿

Ladies and gentlemen, thank you for standing by.

女士們先生們，謝謝你們的支持。

Welcome to the QUALCOMM third quarter conference call.

歡迎參加高通第三季電話會議。

At this time all participants are in a listen-only mode.

此時所有參與者都處於只聽模式。

Later we will conduct a question-and-answer session.

稍後我們將進行問答環節。

If you have a question, you will need to press the 1, followed by the 4 on your push-button phone.

如果您有疑問，您需要按下按鈕電話上的 1，然後按 4。

As a reminder, this conference is being recorded July 23rd, 2003.

提醒一下，本次會議的錄製日期是 2003 年 7 月 23 日。

The playback number for today's call is 800-633-8284.

今天通話的回放號碼是 800-633-8284。

International callers please dial 415-537-1988.

國際電話請撥 415-537-1988。

The playback reservation number is 211-53017.

播放預約號碼為211-53017。

I would now like to turn the call over to Julie Cunningham, Senior Vice President of investor relations.

我現在想將電話轉給投資者關係高級副總裁 Julie Cunningham。

Julie, please go ahead.

朱莉，請繼續。

Thank you and good afternoon.

謝謝你，下午好。

Today's call will include comments by Dr. Irwin Jacobs, Tony Thornley, Bill Keitel, Dr. Paul Jacobs and Dr. Sanjay Jha.

今天的電話會議將包括 Irwin Jacobs 博士、Tony Thornley、Bill Keitel、Paul Jacobs 博士和 Sanjay Jha 博士的評論。

An internet presentation and audio broadcast accompanies this call, and you can access it by visiting our website at www.QUALCOMM.com.

本次電話會議附帶網路演示和音訊廣播，您可以透過造訪我們的網站 www.QUALCOMM.com 進行存取。

In addition, an audio re-broadcast will be available on our website for approximately two weeks.

此外，音訊重播將在我們的網站上提供大約兩週的時間。

During this conference call if we use any non-GAAP financial measures as defined by the SEC in Regulation G, you'll find the required reconciliations to GAAP on our website.

在本次電話會議期間，如果我們使用 SEC 在 G 條例中定義的任何非 GAAP 財務指標，您將在我們的網站上找到所需的 GAAP 調整表。

I would also direct you to our 10Q which was filed today.

我也會引導您查看今天提交的 10Q。

We may also make forward-looking statements that differ materially from QUALCOMM's actual results.

我們也可能做出與高通實際結果有重大差異的前瞻性陳述。

Please review our SEC filings for a detailed presentation of each of our businesses and associated risks.

請查看我們向 SEC 提交的文件，以了解我們每項業務和相關風險的詳細介紹。

I'll begin with a summary of QUALCOMM's third fiscal quarter results.

我先總結高通第三財季的表現。

Revenues were $922m in the third fiscal quarter, up 20% year over year.

第三財季營收為 9.22 億美元，年增 20%。

Third quarter net income was $192m compared to a loss of $14m year over year.

第三季淨利為 1.92 億美元，去年同期虧損 1,400 萬美元。

Earnings per share were 23 cents compared to a loss of 2 cents per share year over year.

每股收益為 23 美分，而去年同期每股虧損 2 美分。

Revenues excluding QUALCOMM's strategic initiatives for the QSI segment were $891m in the third fiscal quarter up 24% year over year.

不包括高通在 QSI 領域的策略性舉措，第三財季的營收為 8.91 億美元，較去年同期成長 24%。

Net income excluding the QSI segment was $267m, up 38% year over year.

不包括 QSI 部門的淨利潤為 2.67 億美元，年增 38%。

Earnings per share excluding QSI were 33 cents, up 38% year over year.

不包括 QSI 的每股收益為 33 美分，年成長 38%。

And now I would like to introduce Dr. Irwin Jacobs, Chairman and CEO.

現在我想介紹一下董事長兼執行長歐文·雅各布斯博士。

Thank you, Julie, and good afternoon, everyone.

謝謝朱莉，大家下午好。

Our third quarter earnings excluding the QSI segment exceeded our expectations in both earnings and revenues grew substantially year over year, reflecting the continued growth of CDMA around the world and our strong position as a supplier of CDMA chips, high-tier, mid-tier as well as entry level to the leading phone and infrastructure manufacturers around the world.

我們第三季的收益（不包括QSI 部分）超出了我們的預期，收益和收入同比大幅增長，反映出CDMA 在全球範圍內的持續增長以及我們作為CDMA 晶片供應商的強大地位，包括高端、中端和以及全球領先的電話和基礎設施製造商的入門級。

As we projected in our April conference call, we experienced a reduction in chip volumes in the June quarter from the very high levels earlier in the year as a result of growth in CDMA channel inventories in the March quarter.

正如我們在 4 月電話會議中所預測的那樣，由於 3 月季度 CDMA 通路庫存的成長，我們 6 月季度的晶片銷量較今年稍早的高水準有所下降。

At this time we believe carry inventories are largely in line with what CDMA carriers consider normal inventory, and in India shipments were recently being expedited to avert shortages.

目前，我們認為庫存與 CDMA 營運商認為的正常庫存基本一致，並且印度最近正在加快發貨以避免短缺。

We believe some phone manufacturers and some China distributors have more than normal inventory, although our projection is that the combination of inventory consumption and increasing demand will largely normalize CDMA channel inventories by the end of September.

我們認為，一些手機製造商和一些中國分銷商的庫存高於正常水平，但我們預計，庫存消耗和需求增加的結合將在 9 月底使 CDMA 通路庫存基本正常化。

The two newest CDMA markets, China and India, are both gaining momentum as they expand and promote their CDMA 2000 1x services.

中國和印度這兩個最新的 CDMA 市場在擴展和推廣 CDMA 2000 1x 服務時都獲得了發展勢頭。

Indeed in my meeting last week with the new chairman of China Unicom, Mr. Wang, Jing in Beijing, the issue of possible handset shortages was raised.

事實上，上週我在北京與中國聯通新任董事長王靖先生會面時，就提出了手機可能短缺的問題。

China Unicom began its prepaid service in 7 regions and achieved more than 11 million total CDMA subscribers by the end of June.

中國聯通已在7個地區開通預付費業務，截至6月底，CDMA用戶總數已超過1,100萬戶。

Prepaid service will be available nationwide in August.

預付費服務將於8月在全國推出。

Unicom launched BREW service with 10 BREW handsets and more than 40 applications.

聯通推出BREW業務，擁有10款BREW手機和40多個應用程式。

Unicom announced BREW-based service and GPS 1 enable service nationwide yesterday.

聯通昨天宣佈在全國啟用基於BREW的服務和GPS 1服務。

Indeed I made use of GPS 1 location services in mapping and several BREW applications, both in Beijing and Bronju last week.

事實上，我上週在北京和布朗朱都在地圖繪製和幾個 BREW 應用程式中使用了 GPS 1 定位服務。

I also use CDMA,2000 1x EV-DO high data rate services, including streaming video at a Chinese CDMA industry exhibition in Bronju with infrastructure equipment supplied by Lucent, by VTE and also by [INAUDIBLE].

我還使用 CDMA,2000 1x EV-DO 高數據速率服務，包括在 Bronju 舉行的中國 CDMA 行業展覽會上使用朗訊、VTE 和 [聽不清楚] 提供的基礎設施設備進行串流影片。

China Unicom began its Phase 3 expansion which when completed in 2004 will increase capacity to support an additional 15 million users.

中國聯通開始了第三階段的擴建，該項目於 2004 年完成後將增加容量，以支援額外的 1500 萬用戶。

The first phase of Unicom's GPS 1 launch is also underway in three cities, Beijing, Shanghai, Ganju with plans to expand to seven cities and then nationwide.

聯通GPS 1的第一階段也在北京、上海、贛州三個城市進行，計畫擴展到七個城市，然後擴展到全國。

Unicom's GSM1x trial is entering the second phase and Unicom expects to begin its friendly-user trial in August.

聯通GSM1x試驗進入第二階段，聯通預計8月開始友善用戶試驗。

In India, tray, the telecommunications authority, approved wireless local group operator tariffs plans and made it clear they would not regulate handset pricing.

在印度，電信當局托盤批准了無線本地集團營運商的資費計劃，並明確表示不會監管手機定價。

Reliance Infocom achieved over two million subscribers by the end of June and expects to increase that number substantially with its monsoon ungama promotion which requires a payment of $10 up front and $10 per month and is sold through Reliances web world stores around the country.

截至6 月底，Reliance Infocom 的訂戶數量已超過200 萬，並預計透過季風ungama 促銷活動大幅增加這一數字，該促銷活動需要預付10 美元，每月支付10 美元，並透過全國各地的Reliance web world 商店進行銷售。

In addition, Reliance is offering special plans to corporate clients and reduced rates to its over three million shareholders.

此外，Reliance 還向企業客戶提供特別計劃，並為其超過 300 萬股東提供折扣。

Tartar is also actively promoting its CDMA service with a new entry level program priced at $21.

Tartar 也積極推廣其 CDMA 服務，推出了售價 21 美元的新入門級計畫。

By subscribers among Reliance, tarter and other CDMA operators in India now total approximately three million.

印度 Reliance、tarter 和其他 CDMA 營運商的用戶總數目前約為 300 萬。

I would like to conclude with two topics.

我想以兩個主題作為結束語。

The first is our board decision to increase our quarterly dividends to shareholders.

首先是我們的董事會決定增加對股東的季度股利。

Our business generates strong and growing cash flow, and we are confident in our ability to continue generating cash while increasing revenues and earnings with products already launched and with new products and services resulting from our high levels of innovative research and development.

我們的業務產生強勁且不斷增長的現金流，我們對繼續產生現金的能力充滿信心，同時透過已推出的產品以及高水平創新研發帶來的新產品和服務增加收入和收益。

Recent changes in U.S. tax law make the distribution of dividends more efficient so we believe returning value to shareholders is a very good use of our growing cash.

美國稅法最近的變化使股息分配更加有效，因此我們相信向股東返還價值是對我們不斷增長的現金的一個很好的利用。

Since we began our quarterly dividend and stock repurchase programs last quarter, we have paid $79m in dividends and have made net stock repurchases of $158m.

自從我們上個季度開始季度股息和股票回購計劃以來，我們已經支付了 7,900 萬美元的股息，並進行了 1.58 億美元的淨股票回購。

The second topic that I would like to address is insider selling.

我想談的第二個主題是內線銷售。

We continue to receive questions from shareholders about this area.

我們不斷收到股東關於該領域的問題。

Last November on our earnings conference call, I spoke about my anticipated stock sales as well as the anticipated sales of several of our directors and officers.

去年 11 月，在我們的收益電話會議上，我談到了我預期的股票銷售以及我們幾位董事和管理人員的預期銷售。

You will continue to see regular transactions which are reported on our website by myself and other QUALCOMM officers and board members as a result of our setting up 10-B-51 plans.

由於我們制定了 10-B-51 計劃，您將繼續看到我本人以及其他高通高管和董事會成員在我們網站上報告的常規交易。

These plans which comply with 10-B-51 promulgated by the SEC enable those of us who routinely have what may be considered inside information to establish a plan of regular nondiscretionary stock transactions that are administered by an independent investment visor.

這些計劃符合 SEC 頒布的 10-B-51 規定，使我們這些經常掌握可能被視為內部資訊的人能夠制定由獨立投資顧問管理的定期非全權股票交易計劃。

I have established such a plan and most of our directors and affiliates have as well to facilitate asset diversification, estate planning and charitable giving.

我已經制定了這樣的計劃，我們的大多數董事和附屬機構也制定了這樣的計劃，以促進資產多元化、遺產規劃和慈善捐贈。

Please do not read any other motives into this.

請不要將其解讀為任何其他動機。

In my own case, these transactions represent a small portion of my total QUALCOMM holdings.

就我個人而言，這些交易僅占我持有的高通公司股份的一小部分。

I strongly believe in QUALCOMM's future and continue to hold a substantial amount of our stock.

我堅信高通的未來，並繼續持有我們大量的股票。

Finally, I would like to thank Don Schrock for all of his contributions to QUALCOMM and wish him the best as he retires next week.

最後，我要感謝 Don Schrock 對高通所做的所有貢獻，並祝他下週退休時一切順利。

Don did an excellent job in creating a world class UCT organization, and I'm confident that Sanjay Jha will continue to build on Don's success and guide QCT's further growth.

Don 在創建世界一流的 UCT 組織方面表現出色，我相信 Sanjay Jha 將繼續在 Don 的成功基礎上再接再厲，並指導 QCT 進一步發展。

I will now turn the call over to Tony Thornley for the global business overview.

我現在將把電話轉給托尼·索恩利，以了解全球業務概況。

Thank you, Irwin, and good afternoon.

謝謝你，歐文，下午好。

Our business continues to perform exceedingly well.

我們的業務繼續表現出色。

It will results for the quarter, excluding QSI, exceeded our prior estimates, and when you normalize for inventory fluctuations, the trends in all markets are very good.

該季度的結果（不包括 QSI）超出了我們先前的估計，當庫存波動正常化時，所有市場的趨勢都非常好。

We are generating strong cash flows from operations while showing above-market growth this year.

我們的營運產生了強勁的現金流，同時今年的成長也高於市場水平。

We are seeing increasing efforts by our competitors to capture market share from our chip business, particularly in the rapidly growing entry level market, but we are confident in our products and overall services that are designed to make our customers, their customers, and the consumer of wireless services fully satisfied.

我們看到我們的競爭對手越來越多地努力從我們的晶片業務中奪取市場份額，特別是在快速增長的入門級市場，但我們對我們的產品和整體服務充滿信心，這些產品和整體服務旨在使我們的客戶、他們的客戶和消費者的無線服務完全滿意。

Competition is by no means new to us, and we welcome it as it is recognition of the opportunity in our space.

競爭對我們來說絕對不是新鮮事，我們歡迎競爭，因為這是對我們領域機會的認可。

And it can grow the overall market which is one of our key objectives.

它可以擴大整體市場，這是我們的主要目標之一。

The same time, we will, as always, compete vigorously for every sale.

同時，我們將一如既往，激烈競爭每一筆銷售。

Looking at our progress by market, I'll begin with North America.

以市場來看我們的進展，我將從北美開始。

CDMA continues as a technology of choice with a 44% market share in the U.S.

CDMA 繼續成為首選技術，在美國佔據 44% 的市場份額

We're awaiting the quarterly results from the major CDMA operators, but the indication from Radio Shack, who is a distributor for both Sprint and Verizon confirmed our view that the CDMA market in North America is very strong due to exciting new products and aggressive marketing plans from these operators.

我們正在等待主要 CDMA 運營商的季度業績，但 Sprint 和 Verizon 的分銷商 Radio Shack 的跡象證實了我們的觀點，即由於令人興奮的新產品和積極的營銷，北美的 CDMA 市場非常強勁這些運營商的計劃。

With strongly supporting Verizon as it prepares to launch commercial 1xEV-DO service in San Diego and Washington, D.C. in September.

Verizon 準備於 9 月在聖地牙哥和華盛頓特區推出商業 1xEV-DO 服務，並大力支持。

We expect Fuses to be truly excited with the performance in range of applications and to rapidly adopt this amazing wide area mobile broadband access.

我們期望 Fuses 能夠真正對各種應用中的效能感到興奮，並迅速採用這種令人驚嘆的廣域行動寬頻存取。

Over 50% of Sprint's phones are now 1x and they have had good success with the Sanyo camera phone.

Sprint 超過 50% 的手機現在都是 1x，而且他們在 Sanyo 拍照手機上取得了巨大成功。

Sprint favors 1x E V- D V and we are supporting the development for this standard with our recently announced MSM and CSM 6700 chips which Sanjay will discuss later in the call.

Sprint 青睞 1x E V-D V，我們正在透過最近發布的 MSM 和 CSM 6700 晶片支援該標準的開發，Sanjay 將在稍後的電話會議中討論這些晶片。

The South Korea economy has been weak in the first half of the year but recent trends suggest the worst is over.

韓國經濟上半年疲軟，但最近的趨勢顯示最糟糕的時期已經過去。

There were over 21million ,1X subscribers at the end of June in South Korea.

截至 6 月底，韓國訂閱用戶數量超過 2,100 萬，1X。

Both SKT and KTF are working toward their goal of 4 million 1xEV-DO subscribers by the end of the year.

SKT 和 KTF 都在努力實現到今年年底擁有 400 萬 1xEV-DO 用戶的目標。

They have achieved about one and a half million by the end of June.

截至六月底，他們的銷量已達到約一百五十萬。

The results they are achieving in terms of increased debtor revenues makes us very bullish about the high-speed wireless data market around the world.

他們在增加債務人收入方面取得的成果使我們對全球高速無線數據市場感到非常樂觀。

In Japan KDDI had approximately 8.6 million, 1X subscribers by the end of June.

截至 6 月底，KDDI 在日本擁有約 860 萬用戶，是原來的 1 倍。

BREW-capable phones are selling well and camera phones continue to stimulate the replacement cycle in Japan with many models now offering multimegapixel resolution.

支援 BREW 的手機暢銷，拍照手機繼續刺激日本的更換週期，許多型號現在都提供數百萬像素解析度。

KDDI plans to launch 1xEV-DO later this year.

KDDI 計劃在今年稍後推出 1xEV-DO。

Docomo and J phone also are making progress with WCDMA and Docomo announced a target of six million subscribers by March 2005.

Docomo 和 J Phone 在 WCDMA 方面也取得了進展，Docomo 宣佈到 2005 年 3 月用戶目標達到 600 萬。

The Japanese market is therefore moving rapidly to CDMA.

因此，日本市場正迅速轉向CDMA。

Although the networks are still small compared to other regions, CDMA activity in southeast Asia is increasing in Vietnam, Thailand, Indonesia, and Australia.

儘管與其他地區相比網路規模仍然較小，但越南、泰國、印尼和澳洲等東南亞地區的 CDMA 活動正在增加。

Saigon postal launched its first 1x network covering two major cities and four provinces in Vietnam.

西貢郵政推出了覆蓋越南兩個主要城市和四個省份的首個 1x 網路。

Australian operated Telstra has achieved approximately 1.3 million, 1X subscribers.

澳洲營運的 Telstra 已擁有約 130 萬用戶，即 1X。

In Latin America, Brazilian operator Vibo has deployed 1x in 22 cities and has 12 million CDMA subscribers and approximately 5 million on TDMA which we expect to be converted to CDMA over time.

在拉丁美洲，巴西營運商 Vibo 已在 22 個城市部署了 1x，擁有 1,200 萬 CDMA 用戶和約 500 萬 TDMA 用戶，我們預計隨著時間的推移，這些用戶將轉換為 CDMA。

Kyocera, Motorola and Nokia are currently supplying phones to Vibo. (inaudible) international continues to deploy 1x networks in its many properties in Latin America.

京瓷、摩托羅拉和諾基亞目前正在向 Vibo 供應手機。 （聽不清楚）International 繼續在其拉丁美洲的許多資產中部署 1x 網路。

The conversion from TDMA to CDMA is taking place quite successfully.

從 TDMA 到 CDMA 的轉換進展順利。

Europe is a large potential market for us and we are putting a lot of effort there into assisting operators move forward with WCDMA and especially getting good traction for our customers using our MSM 6200 and 6250 chips.

歐洲對我們來說是一個巨大的潛在市場，我們正在投入大量精力來幫助營運商推進 WCDMA，特別是為使用我們的 MSM 6200 和 6250 晶片的客戶獲得良好的吸引力。

Progress in the effort to allow CDMA 2000 1x in the 450 megahertz band has been relatively slow so far in Europe but here also we are pushing hard and seeing success in Russia and in Romania.

迄今為止，歐洲在 450 兆赫頻段支援 CDMA 2000 1x 方面的進展相對緩慢，但我們也在努力推動，並在俄羅斯和羅馬尼亞取得了成功。

We plan to see CDMA 450 in operation in Portugal next year.

我們計劃明年看到 CDMA 450 在葡萄牙投入營運。

There is also a great deal of interest in 450 megahertz as a low-cost solution in many markets in Asia.

亞洲許多市場對 450 兆赫作為低成本解決方案也很感興趣。

This can be seen from our cash flow.

這從我們的現金流就可以看出來。

We have seen net inflows from our strategic initiatives this year but we continue to make selective investments where they are strategic and reasonable investments.

今年我們的策略性舉措帶來了淨流入，但我們繼續在策略性和合理性的投資領域進行選擇性投資。

We continue to support Inquom but for the balance of 2003 they will narrow their focus to expansion of their business in Romania and developing the business in Portugal while continuing to selectively prepare other European markets for CDMA service.

我們繼續支持 Inquom，但在 2003 年剩餘的時間裡，他們將把重點縮小到擴大羅馬尼亞業務和發展葡萄牙業務，同時繼續選擇性地為其他歐洲市場提供 CDMA 服務。

Our efforts to exit Vesper continue and we are making progress, although we have not yet reached any firm agreement.

儘管我們尚未達成任何明確的協議，但我們退出 Vesper 的努力仍在繼續，並且正在取得進展。

I'll now turn the call over to Paul Jacobs for the QTL and QUALCOMM wireless and internet update.

現在，我將把電話轉給 Paul Jacobs，以獲取 QTL 和高通無線和網路更新。

Thanks, Tony, and hello, everyone.

謝謝托尼，大家好。

Technology licensing, or QTL segment, grew revenues and earnings 22% and 25% respectively compared to the year-ago period.

與去年同期相比，技術授權（QTL）部門的營收和利潤分別成長了 22% 和 25%。

QTL revenues and earnings were down modestly on a sequential basis as expected due to lower handset,-- total handset shipments in the third quarter.

由於第三季手機總出貨量下降，QTL 營收和獲利季減小幅下降，符合預期。

Companies around the world continue to benefit from QUALCOMM's CDMA patent portfolio.

世界各地的公司繼續受益於高通的 CDMA 專利組合。

During the third fiscal quarter we signed 14 CDMA license agreements including 10 new licenses and four amendments to existing licenses.

在第三財季，我們簽署了 14 份 CDMA 授權協議，其中包括 10 份新授權和現有授權的四份修訂。

The number of manufacturers participating in the worldwide 3G CDMA market also continues to grow.

參與全球3G CDMA市場的製造商數量也持續成長。

At the end of June, there were 35 subscriber and 15 infrastructure licensees reporting sales of CDMA 2000 1x products and nine subscriber and eight infrastructure licensees reporting sales of WCDMA products.

截至6月底，有35家用戶和15家基礎設施持牌人報告了CDMA 2000 1x產品的銷售情況，9名用戶和8家基礎設施持牌人報告了WCDMA產品的銷售情況。

In the wireless and internet, or Q W I segment which consists of QUALCOMM Wireless Business Solutions, or QWBS, Qualcomm Internet Services, or QIS, and QUALCOMM Digital Media, or QDM, revenues were up 4% over the year-ago quarter.

在無線和互聯網（或 Q W I）部門，該部門由高通無線業務解決方案（QWBS）、高通互聯網服務（QIS）和高通數位媒體（QDM）組成，營收比去年同期增長了 4%。

QWI has reported profitable operations for three consecutive quarters.

QWI 已連續三個季度獲利。

We continue to develop the market for wireless applications which is critical to further increase the advantages of CDMA as a technology of choice for all operators.

我們繼續開發無線應用市場，這對於進一步增強 CDMA 作為所有營運商首選技術的優勢至關重要。

In fact, the success we have achieved in the market for wireless solutions has encouraged us to invest more than we had planned for this year as we see the benefits in future years can be very significant.

事實上，我們在無線解決方案市場的成功鼓勵我們比今年的計劃進行更多的投資，因為我們看到未來幾年的收益可能非常顯著。

In QWBS, we shipped approximately 8,400 OmniTRACS unit and related products in the third fiscal quarter.

在 QWBS 中，我們在第三財季出貨了約 8,400 台 OmniTRACS 裝置及相關產品。

This was down from 12,000 in the year-ago period and flat with the last quarter.

這比去年同期的 12,000 人有所下降，與上季持平。

The decrease from the year-ago period reflects the weakness in the U.S. long-haul trucking market and international markets, particularly Brazil.

年比下降反映了美國長途卡車運輸市場和國際市場（尤其是巴西）的疲軟。

QIS had several significant announcements during the quarter.

QIS 在本季度發布了幾項重要公告。

Before I go into those, I want to note an excerpt from an article that appeared on CNET last week about the comeback of the mobile internet.

在開始討論之前，我想先摘錄上週 CNET 上發表的一篇有關行動互聯網捲土重來的文章。

In the article the reporter asked the question, who will be the winners of this long-expected revolution.

記者在文章中提出了這樣的問題：誰將是這場期待已久的革命的勝利者。

He notes that Verizon has been particularly aggressive and says that the most interesting development is QUALCOMM's BREW initiative.

他指出 Verizon 特別積極，並表示最有趣的發展是高通的 BREW 計劃。

Says, BREW, which integrates a hand set OS with the unified billing and provisioning system was at first easy to ridicule as overly ambitious, but it is doing amazingly well.

BREW 表示，將手機作業系統與統一計費和供應系統整合在一起，一開始很容易被嘲笑為過於雄心勃勃，但它卻做得非常好。

In the latest BREW update data as of mid-July is as follows: There are nearly 10 million handsets in the market, more than 37 million worldwide down loads, more than 70 commercial BREW handset models from 16 commercial device manufacturers for eight commercial operators with average uptake of nearly 50%.

截至 7 月中旬的最新 BREW 更新數據如下： 市場上有近 1000 萬部手機，全球下載量超過 3700 萬次，來自 16 個商用設備製造商的 70 多種商用 BREW 手機型號，面向 8 個商業運營商平均使用率接近50%。

On the operator side, success stories continue.

在運營商方面，成功故事仍在繼續。

Alltel launched commercial BREW service under the access brand name and U.S. cellular announced that it would deploy commercial BREW service in the August--September time frame.

Alltel 以存取品牌名稱推出了商業 BREW 服務，美國行動公司宣布將在 8 月至 9 月期間部署商業 BREW 服務。

China Unicom launched commercial BREW services in Guandong and Shanghai and yesterday held a press event announcing their nationwide launch of BREW services in all 31 provinces.

中國聯通在廣東、上海等地推出商用BREW業務，昨天舉行記者會，宣佈在全國31個省份推出BREW業務。

KT freetell in South Korea renewed its contract to offer BREW-based services and further validated their commitment to BREW by signing a multiyear renewal contract and by becoming a BREW global publisher so as to distribute wireless applications developed for BREW by Korean developers to operators worldwide.

韓國的KT freetell 續簽了提供基於BREW 的服務的合同，並通過簽署多年續簽合同並成為BREW 全球發行商，進一步驗證了其對BREW 的承諾，以便將韓國開發商為BREW 開發的無線應用程序分發給全球營運商。

They have become the first operator in the world to become a BREW global publisher.

他們成為世界上第一家成為 BREW 全球發行商的營運商。

Bellsouth international in Latin America announced its intention to launch BREW-based services in nine of their operating companies in Latin America.

拉丁美洲的 Bellsouth International 宣布打算在其拉丁美洲的 9 家營運公司推出基於 BREW 的服務。

This marks a significant increase in the number of addressable subscribers and the number of countries in which BREW will be deployed.

這標誌著可尋址用戶數量和部署 BREW 的國家數量顯著增加。

Midwest wireless also announced that it will launch BREW here in the U.S.

Midwest wireless 也宣布將在美國推出 BREW。

KDDI in Japan is moving its application down- load strategy over to BREW along with all of their Legacy AU applications.

日本的 KDDI 正在將其應用程式下載策略及其所有舊版 AU 應用程式遷移到 BREW。

And Verizon Wireless announced that in just six months it sold 3.2 million BREW-enabled handsets with customer down loads of 8.5 million "Get it now" BREW applications.

Verizon Wireless 宣佈在短短六個月內售出了 320 萬部支援 BREW 的手機，客戶下載了 850 萬個「立即獲取」BREW 應用程式。

Most importantly, Verizon also announced during that same time period that BREW-based service generated an average $7.50 incremental average revenue per user per month.

最重要的是，Verizon 還宣布同一時期基於 BREW 的服務為每個用戶每月帶來 7.50 美元的平均增量收入。

This figure does not include airtime revenues, which is truly impressive, and it matches the data [inaudible] that KT freetell and South Korea reported previously.

這個數字不包括通話收入，這確實令人印象深刻，並且與 KT freetell 和韓國先前報告的數據[聽不清楚]相符。

We continue to show impressive progress with developers as well.

我們也持續在開發人員方面取得令人矚目的進展。

We hosted our third annual BREW developers conference in San Diego in April to an oversold-out audience of more than 1200 people.

4 月份，我們在聖地牙哥舉辦了第三屆年度 BREW 開發者大會，現場觀眾人數超過 1200 人。

Publishers and developers made several important announcements during the conference.

發行商和開發商在會議期間發布了幾項重要公告。

Ezmertack demonstrated the world's first implementation of mid-P 2.0 functionality with its mobile foundation JAVA virtual machine as an extension to the BREW platform.

Ezmertack 透過其行動基礎 JAVA 虛擬機器（作為 BREW 平台的擴展）展示了世界上第一個 mid-P 2.0 功能的實現。

Rocket mobile demonstrated the industry's first multimedia messaging services, or MMS, message exchange between CDMA and GSM, GPRS networks with its rocket MMS BREW client.

Rocket mobile 展示了業界首個多媒體訊息服務（MMS）以及其 Rocket MMS BREW 用戶端在 CDMA 和 GSM、GPRS 網路之間的訊息交換。

Walt Disney internet group announced that it is adding Disney, ABC News.com, and movies.com to its BREW-enabled content lineup and also expanding its library of ESPN and X-games branded BREW titles.

華特迪士尼網路集團宣布將迪士尼、ABC News.com 和 movie.com 加入其支援 BREW 的內容陣容中，並擴大其 ESPN 和 X-games 品牌的 BREW 遊戲庫。

Sorent announced that the Yao Ming Basketball by Sorent will be introduced exclusively for the BREW platform and initially available only to China Unicom subscribers.

Sorent 宣布，Sorent 姚明籃球將專為 BREW 平台推出，最初僅提供給中國聯通用戶。

One other noteworthy developer announcement was made last week.

上週，開發人員還發布了另一項值得注意的公告。

KTF in South Korea announced that it will offer MSN mobile messenger, the largest instant message service in the world with more than 100 million monthly users globally via KT Freetells BREW-based magic and multipack service.

韓國 KTF 宣布將透過 KT Freetells 基於 BREW 的魔法和多包服務提供 MSN 行動通訊服務，這是世界上最大的即時通訊服務，全球每月用戶數超過 1 億。

Developers around the world are working with the BREW platform, making money and getting their aps in front of operators around the world thanks to the worldwide marketplace we've created for them.

世界各地的開發人員正在使用 BREW 平台賺錢，並透過我們為他們創建的全球市場將他們的應用程式呈現在世界各地的營運商面前。

And operators are increasingly requiring BREW-enabled phones from their OEM partners.

營運商越來越多地要求其 OEM 合作夥伴提供支援 BREW 的手機。

As I said, there are now more than 70 BREW-enabled handsets available in the market from 16 different OEMs, and the numbers continue to grow.

正如我所說，目前市場上有來自 16 個不同 OEM 的 70 多款支援 BREW 的手機，而且這個數字還在繼續增長。

Finally, an update on QChat.

最後是 QChat 的更新。

We demonstrated our Q-Chat push-to-talk voice-over-internet protocol technology, achieving initial call setup times of less than two seconds.

我們展示了 Q-Chat 一鍵通網路語音協定技術，實現了不到兩秒的初始呼叫建立時間。

Rapid call setup for push-to-talk is a hallmark of Nextel's direct connect service which they believe is required for a good user experience.

一鍵通的快速通話設定是 Nextel 直接連線服務的標誌，他們認為這是獲得良好使用者體驗所必需的。

This important milestone was achieved over CDMA 2000 infrastructure and handsets between mobiles that were initially not transmitting and were brought onto an active call at the button push.

這一重要的里程碑是透過 CDMA 2000 基礎設施和行動裝置之間的手機實現的，這些行動裝置最初不會進行傳輸，但按下按鈕後即可進行有效通話。

And now I'll turn the call over to Sanjay Jha for the QCT overview.

現在我將把電話轉給 Sanjay Jha，以了解 QCT 概述。

Thanks, Paul.

謝謝，保羅。

QCT shipped approximately 23 million MSM phone chips during third quarter, up from 16 million in the year-ago quarter and down, as expected from 28 million shipped the last quarter.

QCT第三季MSM手機晶片出貨量約2,300萬顆，高於去年同期的1,600萬顆，也低於上一季2,800萬顆的預期。

Expanding demand for voice capacity in North America and emerging markets and wireless data services worldwide continue to drive the migration to 3G devices.

北美和新興市場對語音容量的需求不斷擴大，以及全球無線數據服務持續推動向 3G 設備的遷移。

As a result in the June quarter, 97% of all unit shipments were CDMA 2000 1x and 1xEV-DO and we expect that percentage to grow again in the September quarter.

因此，在 6 月季度，所有出貨量的 97% 是 CDMA 2000 1x 和 1xEV-DO，我們預計該百分比在 9 月季度將再次成長。

Revenues for the quarter came in at $557m with EBT of $163m, 38% and 39% growth respectively versus the same quarter last year.

該季度營收為 5.57 億美元，稅前利潤為 1.63 億美元，與去年同期相比分別成長 38% 和 39%。

For the first nine months of the fiscal year, QCT's revenue of $1.9b is up greater than 73% versus the same period last year.

在本財年的前 9 個月，QCT 的營收為 1.9b 美元，與去年同期相比成長了 73% 以上。

In addition to unit volume growth mentioned, the weighted average selling price of our chip-sets showed a marginal sequential increase due to the mix of higher end chip volume, including the richly featured MSM 5500 1xEV-DO chip.

除了提到的單位銷售成長之外，由於高階晶片銷售（包括功能豐富的 MSM 5500 1xEV-DO 晶片）的混合，我們晶片組的加權平均售價也出現了小幅環比增長。

We shipped CSM infrastructure chips to support approximately 2.2 million equivalent voice channels, down from 4 million in the year-ago quarter and up from 1.5 million last quarter.

我們交付的 CSM 基礎設施晶片支援約 220 萬個等效語音通道，低於去年同期的 400 萬個，高於上個季度的 150 萬個。

We continue to invest heavily in research and development expenses.

我們繼續大力投資研發費用。

Our resources are being allocated to the development of 1xEV-DO, DV, UMTS, multimedia and multimode, and next-generation RF devices.

我們的資源被分配到 1xEV-DO、DV、UMTS、多媒體和多模以及下一代 RF 設備的開發。

We were also successful in reducing our QCT inventories--QCT held inventories by close to 30% from the March level.

我們也成功地減少了 QCT 庫存——QCT 的庫存比 3 月的水準減少了近 30%。

Today we are successfully migrating our customers to 0-IF solutions.

今天，我們成功地將客戶遷移到 0-IF 解決方案。

Devices based on MSM 6050 chipsets are already commercially available in the U.S. and by the end of this year approximately 20 seperate commercial handsets will be available covering our MSM 6,000 series product line including MSM 6300 to enable true world phone capability for roaming between CDMA 2000 and GSM, GPRS network.

基於MSM 6050 晶片組的設備已在美國上市，到今年年底，大約20 款獨立的商用手機將上市，涵蓋我們的MSM 6,000 系列產品線，包括MSM 6300，以實現真正的世界電話功能，在CDMA 2000和 CDMA 2000 之間漫遊。GSM、GPRS 網路。

More than half -- more than a half dozen customers are currently working on UMTS designs based on our chip-set solutions.

目前，超過一半的客戶正在基於我們的晶片組解決方案進行 UMTS 設計。

We continue to support J phone with volume production of their wideband CDMA handsets and are proceeding with our extensive interoperability testing program to enable wide band CDMA market worldwide.

我們繼續支援 J Phone 寬頻 CDMA 手機的大量生產，並正在進行廣泛的互通性測試計劃，以支援全球寬頻 CDMA 市場。

We sampled the MSM 6500 chip this quarter.

我們本季對 MSM 6500 晶片進行了採樣。

MSM 6500 integrates CDMA 2000 1x, 1xEV-DO, DSM GPRS, simultaneous GPS1, USB on the go and a power optimized RM-9 microprocessor.

MSM 6500 整合了 CDMA 2000 1x、1xEV-DO、DSM GPRS、同步 GPS1、USB on the go 和功率最佳化的 RM-9 微處理器。

It additionally supports MP 3,CMX and various video CodeX, using the microprocessor, the integration application DSB and dedicated hardware accelerators to reduce power consumption.

它還支援MP 3、CMX和各種視訊CodeX，利用微處理器、整合應用DSB和專用硬體加速器來降低功耗。

Altogether, more than 80 separate handsets are either in design or commercially available based on our 0-IF 6,000 series chipsets.

總共有超過 80 款基於我們的 0-IF 6,000 系列晶片組的獨立手機正在設計或投入商用。

This quarter we announced several new products, including 3 new multimode chips, MSM 6025, 6275, 6700, and CSM 6700, as well as our MSM 7,000 family of chips, which will be the next full-featured high-performance product that will include dual microprocessors on a single chip.

本季度我們發布了幾款新產品，包括 3 種新的多模晶片 MSM 6025、6275、6700 和 CSM 6700，以及我們的 MSM 7,000 系列晶片，這將是下一款全功能高性能產品，其中包括單晶片上的雙微處理器。

So I'm happy to report that within this year, there will be many new devices based on our 6,000 series chipset solution for CDMA 2000 markets and I see it further strengthening our position in wide band CDMA by working with our handset customers and carriers to help launch new UMTF networks by the end of this year.

因此，我很高興地向大家報告，今年內，將會有許多基於我們針對CDMA 2000 市場的6,000 系列晶片組解決方案的新設備，我認為透過與我們的手機客戶和營運商合作，這將進一步加強我們在寬頻CDMA 領域的地位幫助在今年年底前推出新的 UMTF 網路。

I will now turn the call over to Bill Keitel for the financial overview.

我現在將把電話轉給比爾凱特爾，以了解財務概況。

Thank you, Sanjay, and good afternoon, everyone.

謝謝桑傑，大家下午好。

We were very pleased by our third quarter results.

我們對第三季的業績感到非常滿意。

We had continued strong cash flow and earnings excluding QSI and the results exceeded our expectations.

不包括 QSI 在內，我們的現金流和利潤持續強勁，結果超出了我們的預期。

Our core businesses continue to execute very well, and average selling prices for CDMA handsets worldwide were higher than expected.

我們的核心業務持續表現良好，全球 CDMA 手機的平均售價高於預期。

I'll begin with the QUALCOMM strategic initiative segment.

我將從高通戰略計劃部分開始。

QSI reported a loss before tax of $28m for the quarter, $20m of which related to Vesper.

QSI 報告本季稅前虧損為 2,800 萬美元，其中 2,000 萬美元與 Vesper 相關。

QSI also recorded a $62m gain on the sale of securities and the sale of a portion of our remaining FCC auction discount voucher, offset by a $68m impairment of wireless licenses and wireless operator investments.

QSI 也因出售證券和出售部分剩餘 FCC 拍賣折扣券而獲得了 6,200 萬美元的收益，但被無線許可證和無線營運商投資的 6,800 萬美元減損所抵消。

We recognized $27m of interest income, related primarily to an accelerated payment from Picasso and a $20m loss for our share of Inquom results.

我們確認了 2700 萬美元的利息收入，主要與畢卡索的加速付款以及我們在 Inquom 業績中所佔份額的 2000 萬美元損失有關。

Turning to our core businesses, revenues excluding QSI were $891 million, down 12% sequentially and up 24% year over year.

談到我們的核心業務，不包括 QSI 的營收為 8.91 億美元，比上一季下降 12%，比去年同期成長 24%。

Earnings per share were 33 cents in the third fiscal quarter, down 13% sequentially and up 38% year over year.

第三財季每股收益為33美分，季減13%，較去年同期成長38%。

QC T revenues were $557m, 38% higher year over year and 15% lower sequentially as expected.

QC T 營收為 5.57 億美元，年增 38%，季減 15%，符合預期。

QCT operating margin was 29%, slightly higher than the year-ago period and lower sequentially, primarily due to changes in sales volume.

QCT 營業利益率為 29%，略高於去年同期，季減，主要是因為銷售變動。

QCT earnings before taxes were $163m, 39% higher than the year-ago quarter.

QCT 稅前利潤為 1.63 億美元，比去年同期成長 39%。

QTL reported June revenues and earnings before tax of $242m, and $218m respectively.

QTL 公佈 6 月營收和稅前利潤分別為 2.42 億美元和 2.18 億美元。

Year-over-year revenues and earnings before tax grew 22% and 25% respectively.

收入和稅前利潤分別年增 22% 和 25%。

Royalty revenues from third-party licensees were $203m in the third fiscal quarter compared to $168m in the year-ago quarter.

第三財季來自第三方授權商的特許權使用費收入為 2.03 億美元，去年同期為 1.68 億美元。

QTL operating margin in the third quarter was 90% compared to 88% in the year-ago period.

第三季 QTL 營業利益率為 90%，而去年同期為 88%。

As Julie mentioned, we filed our Form 10Q report today simultaneous with our earnings release.

正如朱莉所提到的，我們今天在發布收益的同時提交了 10Q 表格報告。

We implemented this accelerated schedule several quarters ago because we believe it's important to provide investors immediate access to our expanded disclosure provided in the 10Q.

我們在幾個季度前實施了這一加速時間表，因為我們認為讓投資者立即獲得我們在第十季度提供的擴展披露資訊非常重要。

To further augment our disclosure, we've included a thorough description of our QTL royalty revenue recognition process as well as historical data in the 10Q we just filed.

為了進一步擴大我們的揭露，我們對我們的 QTL 特許權使用費收入確認流程以及我們剛剛提交的 10 季的歷史數據進行了全面的描述。

As we've previously disclosed, QTL royalty revenues earned in the period in which licensees sell their products, even though licensees self-report royalities to the company one quarter in arrears.

正如我們先前所揭露的，QTL 特許權使用費收入是在被授權人銷售其產品期間獲得的，儘管被授權人自行向公司報告了拖欠四分之一的特許權使用費。

Since we have reliable visibility into the overall CDMA market, we are required to accrue a portion of our royalty revenue by using a defined estimation process applied consistently quarter to quarter.

由於我們對整個 CDMA 市場有可靠的了解，因此我們需要透過使用按季度一致應用的定義估算流程來累積部分特許權使用費收入。

Each quarter we record in revenue the difference between our accrual from the prior quarter and the actual royalities reflected on the licensee reports we received.

每個季度，我們都會在收入中記錄上一季的應計費用與我們收到的被授權人報告中反映的實際特許權使用費之間的差異。

In those areas where we do not have the ability to estimate, we recognize revenue when we receive the licensees' royalty reports.

在我們無法估計的領域，我們在收到被授權人的特許權使用費報告時確認收入。

You will note in our 10Q disclosure that the difference between our accrual and actual reported has averaged approximately $20m per quarter, or 8% of QTL revenue for the six quarters ended March 2003, and in no case has the estimate exceeded the actual amounts reported to us.

您會在我們10 季度的披露中註意到，我們的應計收入和實際報告之間的差異平均每季度約為2000 萬美元，即截至2003 年3 月的六個季度QTL 收入的8%，並且在任何情況下，估算值都沒有超過報告的實際金額對我們來說。

Based on royalty reports received for the March quarter, CDMA handsets shipped worldwide were approximately 26 million units.

根據 3 月季度收到的專利費報告，全球 CDMA 手機出貨量約 2,600 萬支。

The average selling price of CDMA phones for the March quarter declined sequentially by 3 1/2% to approximately $190 per phone.

3 月季度 CDMA 手機的平均售價較上季下降 3.5%，至每支手機約 190 美元。

QUALCOMM wireless and internet reported revenues of $114m in earnings before tax of $6m in the June quarter.

高通無線和網路報告稱，第二季營收為 1.14 億美元，稅前利潤為 600 萬美元。

QWI operating margin was 5% compared to a negative 4% in the year-ago quarter.

QWI 營業利益率為 5%，而去年同期為負 4%。

Our estimated GAAP-effective tax rate for fiscal 2003 is 45%, up from our prior estimate of 43%.

我們估計 2003 財政年度的 GAAP 有效稅率為 45%，高於我們先前估計的 43%。

Excluding QSI, our estimated fiscal 2003 effective tax rate is 33%, unchanged from last quarter.

不包括 QSI，我們估計 2003 財年有效稅率為 33%，與上季持平。

Cash flow continues to be strong.

現金流持續強勁。

Cash and marketable securities increased approximately $600m to $5b in the June quarter.

6 月季度的現金和有價證券增加了約 6 億美元至 50 億美元。

QSI contributed $315m of increased cash due to Picasso paying down its obligation by $285m, as well as selected QSI investment sales and the realization of a portion of our remaining FCC voucher.

由於畢卡索償還了 2.85 億美元的債務，QSI 貢獻了 3.15 億美元的增加現金，以及選定的 QSI 投資銷售和我們剩餘的 FCC 代金券的一部分變現。

Before providing our guidance, I'll briefly review a forthcoming change in our accounting.

在提供我們的指導之前，我將簡要回顧我們即將發生的會計變更。

Since 2001, we've recognitioned OmniTRACS' hardware revenues in North America and Mexico ratably over the average five-year equipment life, consistent with SAB-1 01.

自 2001 年以來，我們已經確認了 OmniTRACS 在北美和墨西哥的硬體收入在設備平均五年壽命期間的顯著增長，與 SAB-1 01 一致。

EITF issue No. 0021 removed certain criteria included in SAB-1 01 for bundling hardware and related service revenues.

EITF 第 0021 號問題刪除了 SAB-1 01 中包含的有關捆綁硬體和相關服務收入的某些標準。

We are required to adopt EITF 0021 in the fourth fiscal quarter and on a prospective basis, we'll return to recording OmniTRACS' hardware revenue upon shipment and transfer of title.

我們需要在第四財季採用 EITF 0021，並且在未來的基礎上，我們將在發貨和所有權轉讓時重新記錄 OmniTRACS 的硬體收入。

You'll find an expanded explanation of this accounting change in our 10Q.

您將在我們的第十季中找到對此會計變更的詳細解釋。

And now I'll turn to our guidance for 2003 for both the September quarter and the full fiscal year.

現在我將談談我們對 2003 年 9 月季度和整個財政年度的指導。

Visibility for the September quarter I feel is very good.

我覺得九月季度的能見度非​​常好。

We anticipate that September quarter revenues, excluding QSI, will increase approximately 2% to 6% year over year.

我們預計 9 月季度的營收（不包括 QSI）將年增約 2% 至 6%。

We anticipate that earnings per share excluding QSI will be approximately 27 to 29 cents.

我們預計，不包括 QSI 的每股收益約為 27 至 29 美分。

This estimate is based upon shipments of approximately 19 to 21 million MSM phone chips.

該估算是基於大約 1900 至 2100 萬個 MSM 電話晶片的出貨量。

As Irwin mentioned, at this time we believe CDMA phone inventories are largely in line with what CDMA carriers consider normal.

正如 Irwin 所提到的，目前我們認為 CDMA 手機庫存基本上符合 CDMA 業者所認為的正常情況。

We believe that some phone manufacturers and some distributors in China have higher-than-normal CDMA phone inventory, although we believe that the combination of inventory consumption and increasing demand will normalize, largely normalize the CDMA channel inventories by the end of September.

我們認為中國部分手機製造商和部分經銷商的 CDMA 手機庫存高於正常水平，儘管我們相信庫存消耗和需求增加的結合將正常化，到 9 月底 CDMA 通路庫存將基本正常化。

We anticipate a sequential increase in our R&D and SG&A expenses of approximately 8% in the September quarter, primarily due to continued expansion of our CDMA and multimode CDMA, GSM, WCDMA product developments and customer support in various regions.

我們預計第二季度的研發和銷售、一般行政費用將環比增長約 8%，這主要是由於我們的 CDMA 和多模 CDMA、GSM、WCDMA 產品開發以及各個地區的客戶支援的持續擴展。

We anticipate revenue growth for the full fiscal year excluding QSI to be approximately 31% to 33%.

我們預計不包括 QSI 的整個財年收入成長約為 31% 至 33%。

We anticipate the earnings per share will be in the $1.40 to $1.42 range, an increase of 43% to 45% over last year.

我們預計每股收益將在 1.40 美元至 1.42 美元之間，較去年增長 43% 至 45%。

We expect average selling prices of CDMA phones to decline approximately 5% in the fiscal year, and we estimate calendar 2003 CDMA phone market to be in the range of 103 million to 108 million units.

我們預計本財年 CDMA 手機的平均售價將下降約 5%，我們預計 2003 年 CDMA 手機市場將在 1.03 億至 1.08 億部之間。

Due to the significant cash inflow from QSI in fiscal Q3 and our continued focus upon carefully selecting and managing new investments, we now anticipate QSI will generate cash of $500m, net of new investments in fiscal 2003.

由於 QSI 在第三財季的大量現金流入以及我們繼續注重仔細選擇和管理新投資，我們現在預計 QSI 將產生 5 億美元的現金（扣除 2003 財年的新投資）。

That concludes our remarks.

我們的發言到此結束。

Operator, we're ready for questions.

接線員，我們準備好回答問題了。

Ladies and gentlemen, we will now begin the question-and-answer session.

女士們、先生們，我們現在開始問答環節。

To queue a question, press 1, 4.

若要將問題排隊，請按 1、4。

To retract a question, press "1, 3."

若要撤回問題，請按「1、3」。

If you are using a speakerphone, please pick up your handset before pressing the numbers.

如果您使用免持電話，請在按號碼之前拿起聽筒。

One moment, please, for the first question.

請稍等一下，回答第一個問題。

Our first question comes from the line of Kristin Armacost with S.G.

我們的第一個問題來自 Kristin Armacost 和 S.G.

Cowen Please proceed with your question.

考恩請繼續你的問題。

Thank you, good afternoon.

謝謝你，下午好。

I had a question on your handset estimate for the June quarter.

我對你們六月季度的手機預估有疑問。

I was wondering if you could give us some color on who you think gained share of your handset manufacturers in June, given that about a combination of Motorola, LG and Samsung had on average about a 20% to Poers -- 20% to 30% decline in their volumes quarter over quarter or if maybe there is another way differently that you guys held the handsets, and does that imply when you look at the chipset estimates for the September quarter that handset shipments should approximate the chipset shipments as the forecast will be largely in line exiting September?

我想知道您是否可以告訴我們您認為哪些公司在6 月份獲得了手機製造商的份額，因為摩托羅拉、LG 和三星的組合平均為波爾斯帶來了20% 左右的份額——20% 到30 %他們的銷量逐季下降，或者如果你們持有手機的方式有所不同，這是否意味著當你查看9 月份季度的晶片組估計時，手機出貨量應該接近晶片組出貨量，正如預測的那樣基本上符合九月退出的條件？

Thank you.

謝謝。

Okay.

好的。

Let me try to answer the question.

讓我嘗試回答這個問題。

In terms of the mix, we won't comment specifically on which manufacturer did better than another in the quarter, but I would say that our volume, our chipset shipments were down 13% or so in the quarter relative to March.

就產品組合而言，我們不會具體評論哪家製造商在本季度的表現優於另一家製造商，但我想說的是，與3 月份相比，本季度我們的銷量、晶片組出貨量下降了13% 左右。

So when you say that Samsung and LG and Motorola were down 20% is not a big change.

因此，當你說三星、LG 和摩托羅拉下跌 20% 時，這並不是一個很大的變化。

So we don't really see a significant change in the mix of vendors.

因此，我們並沒有真正看到供應商組合發生重大變化。

It does fluctuate quarter to quarter, but nothing really significant.

它確實每個季度都有波動，但沒有什麼真正重大的。

Then on the second part of your question, we would see handset shipments in the September quarter to be quite higher than our chipset shipments, which is accounting for the usage of the inventory in the channel as we're indicating.

然後，關於您問題的第二部分，我們會看到九月份季度的手機出貨量遠遠高於我們的晶片組出貨量，正如我們所指出的，這考慮了渠道中庫存的使用情況。

We think that that inventory is still there in a couple of places, particularly in China with the distributors and then some manufacturers, by the end of September, we believe that that will largely be used up.

我們認為，在某些地方，庫存仍然存在，特別是在中國的分銷商和一些製造商，到九月底，我們相信這些庫存將大部分用完。

Thank you.

謝謝。

Our next question comes from the line of Hasan Imam with Thomas Weisel Partners.

我們的下一個問題來自哈桑·伊瑪目與托馬斯·韋塞爾合夥人的關係。

Please proceed with your question.

請繼續你的問題。

Hi, thanks.

你好謝謝。

I had a question, accounts receivable that went up significantly, could you talk about what the reason behind that was?

我有一個問題，應收帳款大幅上升，您能談談背後的原因嗎？

And then as we look to China and Indian markets with Nokia attacking the low end with aggressively priced phones, I wanted to hear about your strategy to combat that.

然後，當我們展望中國和印度市場時，諾基亞以價格激進的手機攻擊低端市場，我想聽聽你們的應對策略。

And if you could, in that line, give us an update on the Flextronics ODM phones.

如果您可以的話，請給我們提供有關 Flextronics ODM 手機的最新資訊。

Thank you.

謝謝。

Hasan, this is Bill Keitel.

哈桑，這是比爾凱特爾。

I'll take your first question.

我來回答你的第一個問題。

Our receivables did increase in the quarter.

我們的應收帳款在本季確實有所增加。

As you are aware, our DM licensees in Korea pay their license fees on a semi-annual basis.

如您所知，我們在韓國的 DM 被許可人每半年支付一次許可費。

So it did increase this quarter and it would normalize next quarter when they pay.

因此，本季度確實有所增加，並且當他們付款時，下個季度就會正常化。

Maybe I can try, Hassan, your question on China or India relating to Nokia.

哈桑，也許我可以嘗試回答你關於諾基亞的中國或印度問題。

In China we don't see Nokia as selling phones, or at least delivering phones yet, but we do expect that they will be there.

在中國，我們不認為諾基亞銷售手機，或至少還沒有交付手機，但我們確實預計它們會在那裡。

In India they are -- they have started to sell phones certainly into the Reliance network.

在印度，他們已經開始在 Reliance 網路中銷售手機。

To this point, though, we don't believe that that's particularly significant in terms of volumes but we certainly, overall, we do see Nokia at the low end and stepping up its efforts in CDMA and certainly having some successes, including in the North American market.

不過，就這一點而言，我們認為這在銷量方面並不是特別重要，但總體而言，我們確實看到諾基亞處於低端市場，並加大了在CDMA 領域的努力，並且肯定取得了一些成功，包括在北方地區美國市場。

In the case of Flextronics and our arrangement with them at the low end, first of all, I'd say that our low-end strategy I think is working well.

就偉創力以及我們在低端市場的安排而言，首先，我認為我們的低端策略運作良好。

We've introduced phones prior to the Flextronics arrangement with our -- based on our 5010 chipset and then the new family, 6000 chip, is what's being used in the Flextronics design, and we expect phones that Flextronics will be manufacturing for various licensees to be in a number of markets in the relatively near future.

我們在 Flextronics 安排之前推出了基於我們的 5010 晶片組的手機，然後是新系列 6000 晶片，這是 Flextronics 設計中使用的晶片，我們預計 Flextronics 將為各個被許可方製造的手機在不久的將來將進入多個市場。

Thanks.

謝謝。

But would you expect to lower ASPs on the chipsets to at the low end?

但您是否希望將晶片組的 ASP 降低到低端？

Hassan, this is Sanjay Jha.

哈桑，這是桑傑·賈。

We see a lot of our licensees very energized to compete in the low end based on MSM 5010, 5105, MSM 6000 and 6250 in China, India, Latin America markets, and we certainly want to enable them to be extremely competitive in this marketplace, and as far as ASP goes this year, our ASP mix is, actually this quarter, our ASP mix is actually sequentially up.

我們看到我們的許多授權商都非常積極地在基於MSM 5010、5105、MSM 6000 和6250 的中國、印度、拉丁美洲市場的低端市場中競爭，我們當然希望使他們在這個市場上具有極強的競爭力，就今年的 ASP 情況而言，我們的 ASP 組合實際上在本季度，我們的 ASP 組合實際上是連續上升的。

We expect our ASP to be somewhat stable next year -- next quarter I should say, but in terms of competitive pressure from Nokia, we will do the right thing to enable our customers to be competitive and do the right thing for our shareholders also.

我們預計明年我們的平均售價會有所穩定——我應該說是下個季度，但就來自諾基亞的競爭壓力而言，我們將做正確的事情，使我們的客戶具有競爭力，並為我們的股東做正確的事。

Thank you very much.

非常感謝。

Our next question comes from the line of Dale Pfau with CIBC World Markets.

我們的下一個問題來自 CIBC World Markets 的 Dale Pfau。

Please proceed with your question.

請繼續你的問題。

Yes, a question relative to the handset estimates and the chipset estimate.

是的，這是一個與手機估算和晶片組估算相關的問題。

It appears that you are trying to assume that the entire burden of chipset inventories out there gets burned off in the third quarter and then we come flying back in the fourth to meet your full year estimate.

看來您試圖假設晶片組庫存的全部負擔在第三季度被燒掉，然後我們在第四季度飛回來以滿足您的全年預期。

Would we then estimate that chipsets and handset shipments would roughly equate in the fourth quarter?

那麼我們是否會估計第四季晶片組和手機的出貨量將大致相等？

And then I have a follow-up.

然後我有一個後續行動。

Dale, I think maybe I didn't explain it carefully.

戴爾，我想也許我沒有仔細解釋。

In the September quarter, we do expect that handset shipments will exceed chipset shipments and thereby the inventory will be used up substantially.

在九月季度，我們確實預計手機出貨量將超過晶片組出貨量，因此庫存將大幅用完。

Now, not entirely but substantially by the end of September and so then in the December quarter, we would expect a more normalized relationship between handsets and chipset shipments.

現在，到 9 月底以及 12 月季度，我們預計手機和晶片組出貨量之間的關係將更加正常化，但並非完全如此。

And as a follow-up then, as you are looking into the next calendar year, 2005, do you have any indications of what you think your chipset share will be as we see other people move into the chipset business, and what kind of growth are you forecasting for the handset market?

作為後續行動，當您展望下一個日曆年2005 年時，您是否有任何跡象表明，當我們看到其他人進入晶片組業務時，您認為您的晶片組份額將會是多少，以及是什麼樣的成長您對手機市場有預測嗎？

Did you mean calendar 2004 or 2005?

您指的是 2004 年曆還是 2005 年曆？

I'm sorry, calendar 2004.

抱歉，日曆是 2004 年。

In our plan, I think I indicated in the last earning calls, we are planning for some erosion of our market share, but we -- as I say, we will fight for every single sale and we believe that we have the level of integration, the segmented road map, and the relationship with our fab partners to enable us to be very successful in being able to do so.

在我們的計劃中，我想我在上次的財報電話會議中表示，我們正在計劃對我們的市場份額進行一些侵蝕，但正如我所說，我們將為每一筆銷售而奮鬥，我們相信我們有一定的整合水平、分段路線圖以及與晶圓廠合作夥伴的關係使我們能夠非常成功地做到這一點。

And, Dale, in the handset side we're not going to make any specific projections for 2004 at this point.

Dale，在手機方面，我們目前不會對 2004 年做出任何具體預測。

We will in November as we have much better visibility then, but just in general sense, we would say that the handset market we do expect it to grow quite healthily in 2004 as all markets as I commented are performing pretty well.

我們會在 11 月公佈，因為那時我們的能見度要好得多，但從一般意義上來說，我們確實預計手機市場將在 2004 年實現相當健康的增長，因為我所評論的所有市場都表現良好。

Great.

偉大的。

Thank you.

謝謝。

Our next question comes from the line of Wojtek Uzdelewicz with Bear Stearns.

我們的下一個問題來自 Wojtek Uzdelewicz 與貝爾斯登的關係。

Please proceed with your question.

請繼續你的問題。

Thank you.

謝謝。

Two questions.

兩個問題。

One, if you could give us a little bit of an update on your investments plans, how much of a cash flow, outflows do you still expect over the next couple of quarters, and just related to that, I think in the past you were planning to make an investment in the Reliance.

第一，如果您能為我們提供一些有關您的投資計劃的最新信息，您預計未來幾個季度的現金流量、流出量是多少，與此相關，我認為過去您是計劃投資 Reliance。

What's the status on that?

這方面的情況如何？

And then finally, on the margins for the chipset business, what would you expect to be sort of a steady state?

最後，在晶片組業務的利潤方面，您期望什麼是穩定狀態？

What kind of operating margins?

什麼樣的營業利益率？

They have been sort of fairly high level of variation in operating margins.

營業利益率的變動程度相當高。

Your margins pick up 40% when essentially Motorola sort of started outsourcing and now we've seen Nokia more visible.

當摩托羅拉基本上開始外包時，你的利潤率上升了 40%，現在我們看到諾基亞變得更加引人注目。

Seems that there's a little bit more pricing pressure.

看來價格壓力有點大。

What would you see in terms of operating margins, especially for the next quarter but in a steady state, kind of what range do you expect?

您對營業利潤率有何看法，特別是下個季度但處於穩定狀態時，您預計會在什麼範圍內？

I'll comment on your first part of your question, Wojtek.

我將評論你問題的第一部分，Wojtek。

In terms of investments, I think we've pretty clearly indicated that we're, in general, cutting back on our investments.

在投資方面，我認為我們已經非常明確地表明我們總體上正在削減投資。

We believe that in general that the efforts we've made in that regard have paid off in terms of growing the CDMA market.

我們相信，總的來說，我們在這方面所做的努力已經在CDMA市場的成長方面得到了回報。

Maybe a couple of pockets where it's still necessary for us to stimulate the market and where we can make good investments, and I think that the 450 market is one of those.

也許有幾個地方我們仍然需要刺激市場，我們可以進行良好的投資，我認為 450 市場就是其中之一。

We're trying to complete our exit of Vesper.

我們正在努力完成 Vesper 的退出。

Specifically in terms of Reliance, we have no plans to invest at this point in time.

具體而言，就 Reliance 而言，我們目前沒有投資計畫。

So, you know, we don't have any other major investments on the horizon, but as I say, others may come up.

所以，你知道，我們沒有任何其他重大投資，但正如我所說，其他可能會出現。

And I'll let Sanjay talk about the operating margin.

我會讓 Sanjay 談談營業利潤率。

Our market share this quarter is at a 4.5 year high and our ASP sequentially increased slightly.

本季我們的市佔率達到 4.5 年來的新高，平均售價較上季略有成長。

So I think we're in very good shape.

所以我認為我們的狀態非常好。

In terms of the competitive pressure and the impact on the operating margin, we expect our operating margin, particularly while we're investing heavily in EVDO, DV multi-media, multi-mode chipsets, and UMTS heavily we expect our operating margin to go down sequentially, but we have not provided an indication of a long-term operating margin for this business before.

就競爭壓力和對營業利潤率的影響而言，我們預計我們的營業利潤率，特別是當我們大力投資 EVDO、DV 多媒體、多模晶片組和 UMTS 時，我們預計我們的營業利潤率將下降連續下降，但我們之前沒有提供該業務的長期營業利潤率的跡象。

And I would just add Wojtek, that, you know, the variability will probably continue because it's the operating margin is very sensitive to revenues, and so as quarterly shipments will fluctuate, then operating margin will definitely fluctuate, too.

我想補充一點，Wojtek，你知道，這種波動可能會持續下去，因為營業利潤率對收入非常敏感，因此，隨著季度出貨量的波動，那麼營業利潤率肯定也會波動。

Can you just follow up?

能跟進一下嗎？

By being fabless, you don't have a lot of fixed cost by manufacturing chipsets.

透過無晶圓廠，製造晶片組就不需要太多固定成本。

What are the reasons why there is such a big shift then in the prices -- I mean, I'm sorry, not prices, but margins?

價格發生如此大變化的原因是什麼——我的意思是，對不起，不是價格，而是利潤？

I guess two reasons.

我猜有兩個原因。

One is the top line, and second is operating expense.

一是營收，二是營運費用。

And top line changes with the number of chips we ship.

營收隨著我們出貨的晶片數量而變化。

As Tony mentioned, that's a big factor in our operating profit.

正如東尼所提到的，這是我們營業利潤的重要因素。

And second, we continue to invest in RND to keep our technology leadership so that we can provide--we can drive CDMA faster.

其次，我們繼續投資 RND 以保持我們的技術領先地位，以便我們能夠更快地推動 CDMA。

So those two factors are the major factors in determining our operating margin.

因此，這兩個因素是決定我們營業利益率的主要因素。

Yeah, looked at a different way, I mean, the operating expenses as a percent of revenue are what fluctuates because the revenue is changing.

是的，從不同的角度來看，我的意思是，營業費用佔收入的百分比會隨著收入的變化而波動。

And the operating expenses are increasing slightly quarter over quarter as we increase the investment mainly in R&D.

由於我們增加了主要在研發方面的投資，營業費用逐季略有成長。

Sure.

當然。

Makes sense.

說得通。

Thank you.

謝謝。

Our next question comes from the line of Tao Leonie with Merrill Lynch.

我們的下一個問題來自陶·萊尼（Tao Leonie）與美林證券（Merrill Lynch）的對話。

Please proceed with your question.

請繼續你的問題。

Mr. Leonie, your line is now open.

Leonie 先生，您的電話現已接通。

Please proceed with your question.

請繼續你的問題。

Our next question comes from the line of Tim Long with Credit Suisse First Boston.

我們的下一個問題來自瑞士信貸第一波士頓的 Tim Long。

Please proceed with your question.

請繼續你的問題。

Thank you.

謝謝。

Just a question on the ASPs.

只是關於 ASP 的問題。

I think you mentioned down Bill, 3 1/2% sequentially in the quarter.

我想你提到了比爾本季連續下降了 3.5%。

The down 5% for the fiscal year, is that a change from the previous guidance of down 10%, I think it was, for the calendar year?

本財年下降 5%，與之前的日曆年下降 10%（我認為是）的指導相比是否有變化？

And if you can just touch on whether there were any regions that you believe is showing a sequential improvement quarter to quarter from May to June in ASPs?

您是否可以談談您認為 5 月至 6 月期間是否有任何地區的平均銷售價格出現季度較上月改善？

And then just one follow-up.

然後只有一個後續行動。

I just wanted to make sure I understood.

我只是想確保我理解了。

The 26 million units in the quarter, was that up sequentially?

本季的 2,600 萬台銷量是較上季成長的嗎？

Because I think Paul said that royalities were down due to lower handset shipments.

因為我認為保羅說由於手機出貨量下降，特許權使用費下降了。

I just want to clarify that, please.

我只是想澄清一下。

First, on the royalities, you are correct.

首先，關於版稅，你是對的。

The average ASP for the March report was approximately $190.

3 月報告的平均 ASP 約為 190 美元。

We had expected it to be down 5%.

我們原本預計會下跌 5%。

It was only down 3 1/2%.

僅下降了 3 1/2%。

We had last projected ASPs down 10%, and we've improved that outlook now to being down 5%.

我們上次預計 ASP 會下降 10%，現在我們將這項預測提高到下降 5%。

The -- what's happening region by region, you know, the -- as you are aware, the phones in Japan and Korea are invariably very, very feature-rich.

如您所知，各個地區正在發生的事情，日本和韓國的手機功能總是非常非常豐富。

So ASPs tend to be higher in those regions, whereas North America tends to be more competitive, I believe, and a little less feature-rich at this time, although I think that's beginning to change.

因此，這些地區的平均售價往往較高，而我認為，北美往往更具競爭力，而且目前功能較少，儘管我認為這種情況正在開始改變。

So we're seeing little changes region to region, but on balance, 3 1/2% down for the quarter.

因此，我們看到各個地區的變化不大，但總的來說，本季下降了 3 1/2%。

And then what was your other question, Tim?

那你的另一個問題是什麼，提姆？

I'm sorry.

對不起。

Just the units were 26 million in the June quarter.

光是第二季的銷量就達到 2,600 萬輛。

What did that compare to in the March quarter?

與三月季度相比如何？

In the March quarter our units were approximately 26 million.

在 3 月季度，我們的銷量約為 2,600 萬。

So about flat.

那麼關於平坦。

Okay.

好的。

And then, I'm sorry.

然後，我很抱歉。

The $190 ASP, is that your estimate for June, then? or for March?

那麼 190 美元的平均售價是您對 6 月的預估嗎？還是三月？

No.

不。

What I said was $190 was down 3 1/2%.

我說的是 190 美元，下降了 3 1/2%。

The estimate for the year is to be down an average of 5%, and the average for last year was approximately $193.

今年的預估平均下降 5%，去年的平均價格約為 193 美元。

Okay.

好的。

Thank you.

謝謝。

You're welcome.

不客氣。

Our next question comes from the line of Bill Benton with William Blair.

我們的下一個問題來自比爾·本頓和威廉·布萊爾的對話。

Please proceed with your question.

請繼續你的問題。

Good afternoon, guys.

下午好，夥計們。

Just a couple of questions.

只是幾個問題。

I think last quarter you guys had said that you expected an increase of the SGA and RD line of 5% sequentially and it actually fell, and I was wondering if you could comment on that and then I have a follow-up.

我想上個季度你們曾說過，你們預計 SGA 和 RD 線將連續增長 5%，但實際上卻下降了，我想知道你們是否可以對此發表評論，然後我有一個後續行動。

There was some items that -- of expense that occurred in the March quarter that we avoided in the June quarter.

有一些項目是在三月季度發生的，我們在六月季度避免了這些費用。

Those are the primary reasons.

這些是主要原因。

We did grow our head count, as we've been saying we would do, but it largely came in in the latter part of the quarter.

正如我們一直所說的那樣，我們確實增加了員工人數，但主要是在本季後半段增加的。

So we didn't see much of an increase on that.

所以我們沒有看到這方面有太大的成長。

Well, R&D was, in fact, sequentially up, but SG&A was down.

事實上，研發費用連續上升，但銷售、一般管理費用卻下降了。

Right.

正確的。

I mean, the 8% then is a good number for both lines next quarter?

我的意思是，對於下個季度的兩條線路來說，8% 是一個不錯的數字嗎？

I believe so, yes.

我相信是的，是的。

Okay.

好的。

And then just, if you could give some color maybe Paul could on the QWI segment, it looks like the revenues dropped a little bit sequentially and if you could just put a little color on that, Paul.

然後，如果你能給 QWI 部分一些顏色，也許保羅可以，看起來收入連續下降了一點，如果你能對此添加一點顏色，保羅。

It's predominantly just small decreases in QWVF segment.

主要是 QWVF 部分的小幅下降。

It's relatively small, though.

不過，它相對較小。

Right, and then I'm sorry, one other thing.

是的，然後我很抱歉，還有一件事。

If you could give the one-time license fees in the QTL segment and the intersegment revenues?

您能否提供 QTL 細分市場的一次性授權費和細分市場間的收入？

Bill, It's Bill Keitel.

比爾，我是比爾‧凱特爾。

What we've indicated in the past is those license fees are in the range of about $14m to $15m per quarter.

我們過去曾指出，這些許可費約為每季 1,400 萬美元至 1,500 萬美元。

They don't vary much because they are being amortized.

它們變化不大，因為它們是攤銷的。

Okay.

好的。

Great.

偉大的。

Thank you very much.

非常感謝。

Our next question comes from the line of Jeffrey Schlesinger with UBS.

我們的下一個問題來自瑞銀集團的傑弗瑞‧施萊辛格。

Please proceed with your question.

請繼續你的問題。

Thank you.

謝謝。

Bill, appreciate the 10Q out already.

Bill，已經很欣賞 10Q 了。

In the 10Q can you just triangulate for me the royalty revenues from third parties of $203m and then the $135m of estimated royalities and the $23m of royalities earned in the second quarter that were basically booked in the third, what's the remaining $45m?

在第10 季度，您能否幫我算一下來自第三方的2.03 億美元的特許權使用費收入，然後是估計的1.35 億美元的特許權使用費和第二季度賺取的2300 萬美元的特許權使用費，這些特許權費基本上在第三季度預訂，剩下的4500 萬美元是多少？ ？

You have the catch-up from the prior quarter, number one.

第一，你已經趕上上一季了。

And then number two, not all licensees do we accrue for.

第二，我們並非為所有被授權人提供收益。

Licensees that tend to have a low position, unstable position in the market or where their royalities fluctuate greatly, we don't consider those to be estimateable.

那些往往地位較低、市場地位不穩定或特許權使用費波動較大的被授權人，我們不認為這些是可估計的。

Okay.

好的。

And if I can just follow up then.

如果我能跟進的話。

On the 26 million units estimated for the June quarter, is that the number you are giving?

對於 6 月季度預計的 2600 萬台，這是您給出的數字嗎？

It just seems -- that's a hard number to see flat sequentially when Motorola, Samsung, LG were all down so significantly on a sequential basis.

當摩托羅拉、三星、LG 都連續大幅下滑時，這個數字似乎很難連續持平。

Who made up the difference to keep the units flat?

誰彌補了差額以保持單位不變？

I think they were down about 17%,-- 20% sequentially.

我認為它們比上一季下降了 17% 至 20% 左右。

I think a couple of them were quite specific.

我認為其中有幾個非常具體。

I think others were less specific by technology.

我認為其他人對技術的了解不太具體。

We're monitoring their reports as well.

我們也在監視他們的報告。

But as Tony mentioned, you know, there's relative stability but yet, the share quarter to quarter amongst the phone manufacturers will vary.

但正如托尼所提到的，你知道，雖然相對穩定，但手機製造商的份額每個季度都會有所不同。

Thank you.

謝謝。

I will add that we do have quite a significant number of suppliers.

我要補充一點，我們確實有相當多的供應商。

I think Paul mentioned the number of licensees who are reporting is very large.

我認為保羅提到了正在報告的被許可人的數量非常多。

It's around 35, I think, and so you pick the big three but still, there's a lot of volume from the others.

我認為大約是 35 個，所以你選擇了三巨頭，但其他人的交易量仍然很大。

Our next question comes from the line of Tim Luke with Lehman Brothers.

我們的下一個問題來自雷曼兄弟的蒂姆·盧克。

Please proceed with your question.

請繼續你的問題。

Hi, thanks.

你好謝謝。

Tony, I was wondering if you could give a sense on how you see the visibility as you move into the December period then.

托尼，我想知道您是否可以談談您如何看待進入 12 月期間的可見性。

I think Bill said the visibility for September was very strong, I think.

我想比爾說過九月的能見度非​​常高。

And then I was also wondering, Sanjay, if you could just talk on Samsung, your relationship there and then lastly, just to sort of give us a framework, although you are not commenting on fiscal '04, your expectation is that the earnings level there, given that I think you mentioned-- you said there would still be growth in the overall handset market is for the earnings to be up or flattish or how should -- what's the sort of flamework for that?

然後我還想知道，Sanjay，您是否可以談談三星以及您在那裡的關係，最後，只是為了給我們一個框架，儘管您沒有評論 04 財年，但您的預期是盈利水平在那裡，我想你提到過——你說過，如果獲利上升或持平，或者應該如何，整個手機市場仍然會成長——這會帶來什麼樣的火焰？

Thank you.

謝謝。

Okay, Tim.

好的，提姆。

The visibility into the December quarter is really to early to say as it usually is in terms of, you know, the orders, firm orders.

對 12 月季度的可見度確實還為時過早，因為通常就訂單、確定訂單而言。

So I won't be able to comment on that.

所以我無法對此發表評論。

I mean, we certainly feel like the market around the world is improving and so we would expect to see an uptick in demand, particularly as inventory is being used up this quarter in our view.

我的意思是，我們當然認為世界各地的市場正在改善，因此我們預計需求會上升，特別是我們認為本季庫存已用完。

In terms, let me answer the '04 question and then Sanjay can talk about Samsung.

總而言之，讓我回答 04 年的問題，然後 Sanjay 可以談談三星。

We're not -- as I said -- going to specifically comment on '04.

正如我所說，我們不會具體評論 '04。

I did say that we think that the CDMA market is going to grow.

我確實說過我們認為 CDMA 市場將會成長。

Sanjay also said that he is planning on a reduced market share, somewhat reduced market share in '04.

Sanjay 也表示，他計劃減少市場份額，在 04 年稍微減少市場份額。

We're working through the numbers there and we'll have more definitive guidance in November.

我們正在研究那裡的數據，我們將在 11 月獲得更明確的指導。

Tim, in terms of Samsung, both in terms of, as a result of our interactions with Samsung, private interactions and their public statements including the one I think that they made in the last earning call, we believe that our working relationship with them is very strong, and we will continue to be an essential partner for them.

提姆，就三星而言，無論是我們與三星的互動、私下互動還是他們的公開聲明，包括我認為他們在上次財報電話會議中所做的公開聲明，我們相信我們與他們的工作關係是非常強大，我們將繼續成為他們的重要合作夥伴。

They certainly have a 1x chipset, but we believe that our solution continues to be in vast, vast majority of their solutions, and we see our partnership being very strong going forward in multiple different technologies.

他們當然擁有 1x 晶片組，但我們相信我們的解決方案仍然存在於他們的絕大多數解決方案中，並且我們看到我們的合作夥伴關係在多種不同技術方面的發展非常牢固。

Of course, they are a key partner for us in UMTS and we believe that enabling them to succeed in both CDMA 2000 and UMTS along with all of our other customers is an important part of our success here.

當然，他們是我們在 UMTS 領域的重要合作夥伴，我們相信，讓他們與我們所有其他客戶一起在 CDMA 2000 和 UMTS 領域取得成功是我們成功的重要組成部分。

They are definitely a leader in EV-DO which is a very important element ,I think, going forward.

他們絕對是 EV-DO 領域的領導者，我認為這是未來發展的一個非常重要的因素。

Absolutely.

絕對地。

So did you say your chip ASP was up slightly this quarter, and how do you see it the following quarter?

那麼您是否說本季您的晶片平均售價略有上升，您對下個季度有何看法？

We did say it was, yes,we did say it was marginally up this quarter and we see it relatively flat next quarter also.

我們確實說過，是的，我們確實說過本季略有上升，我們認為下季也相對持平。

Thank you.

謝謝。

Our last question comes from the line of James Faucette with Pacific Crest.

我們的最後一個問題來自 Pacific Crest 的 James Faucette。

Please proceed with your question.

請繼續你的問題。

Thank you.

謝謝。

I just wanted to ask about the level, where you guys are booked relative to your chipsets guidance for the September quarter and also, if you could comment on the order flow for chipsets, especially compared to what we've heard out of Texas Instruments and some of the other people about acceleration towards the end of June and through the first part of July?

我只是想問一下你們的預訂水平，相對於九月份季度的晶片組指導，以及您是否可以對晶片組的訂單流程發表評論，特別是與我們從德州儀器和其他一些人關於六月底和七月初的加速？

And then finally, just a housekeeping question.

最後，只是一個家政問題。

Could you remind us what the handset ASP was at the end of last fiscal year, please?

您能否提醒我們上一財年末的手機平均售價是多少？

I'll take the first two questions.

我來回答前兩個問題。

The first question, I guess, was -- we are very comfortable with the guidance that we have given you and I think the guidance that Bill gave was 19 million to 21 million for the fourth fiscal quarter and very comfortable with that guidance, and in terms of our booking, certainly in the last four weeks we've seen a small acceleration in our booking.

我想，第一個問題是——我們對我們給你們的指導感到非常滿意，我認為比爾給出的第四財季指導是 1900 萬到 2100 萬，並且對這個指導非常滿意。就我們的預訂而言，在過去的四個星期裡，我們的預訂量確實出現了小幅增長。

So we see some positive trend there.

所以我們看到了一些正面的趨勢。

Okay.

好的。

Just if I could hopefully get a little bit of clarification.

只是希望我能得到一點澄清。

As you are putting out your guidance then, are you anticipating that that kind of acceleration follows through for the rest of the quarter, or are you allowing for that to perhaps settle back a bit?

當您發布指導意見時，您是否預計這種加速會持續到本季度剩餘時間，或者您是否允許這種情況有所回落？

The guidance we've provided was based on the visibility that we have on orders today. 19 to 21 allows for, I guess, a slight upside from what we are very comfortable with.

我們提供的指導是基於我們今天的訂單可見性。我想，19 到 21 的時間比我們感到滿意的情況略有上升。

So I guess I would only say that we are very comfortable over there with the orders that are already there in that range.

所以我想我只會說我們對該範圍內已有的訂單感到非常滿意。

Right.

正確的。

And I think we're in pretty much the same position as we've been in prior quarters in terms of the bookings versus the estimates.

我認為，就預訂量與預估量而言，我們的處境與前幾季幾乎相同。

Absolutely, yeah.

絕對是的。

And I guess the same question there was last quarter about our comfort level, and we were able to execute on it, and I think -- all I can say is I'm very comfortable with the projections so far.

我想上個季度也有關於我們的舒適度的同樣的問題，我們能夠執行它，我想 - 我能說的是我對迄今為止的預測非常滿意。

Okay.

好的。

Thank you.

謝謝。

And what about ASP at the close of last fiscal year?

上一財年結束時的平均售價（ASP）又如何呢？

Yeah, James, as I said, the ASP for the full fiscal year last year averaged $193, but it went out of the fiscal year at about $190.

是的，詹姆斯，正如我所說，去年整個財年的平均售價為 193 美元，但本財年結束時的平均售價約為 190 美元。

Okay.

好的。

And so when you talked about -- when you talked about in your guidance today about the ASP being down 5% at the end of the September quarter, is that a full year ASP versus full year ASP?

因此，當您在今天的指導中談到 ASP 在 9 月季度末下降 5% 時，這是全年 ASP 與全年 ASP 的比較嗎？

Yes, it's compared to the average of 193 average for fiscal '02.

是的，這是與 02 財年 193 的平均值進行比較的。

So the total average for fiscal '03 I expect to be down 5% from the 193.

因此，我預計 03 財年的總平均值將比 193 下降 5%。

Okay, great.

好的，太好了。

Thank you very much.

非常感謝。

Dr. Jacobs, please continue with your presentation or any closing remarks.

Jacobs 博士，請繼續您的演講或結束語。

Well, thank you-all for participating.

好的，謝謝大家的參與。

I must say, I just returned from China.

我必須說，我剛從中國回來。

Luckily the SARS issue now seems to be very much subdued there.

幸運的是，非典問題現在似乎已經得到了緩解。

I was quite excited to see all the new technology being introduced, the availability of handsets, and so we will all be watching that market obviously very carefully, but looks like the lull with the SARS is now in the past.

我很高興看到所有新技術的推出和手機的上市，因此我們都將非常仔細地關注這個市場，但看起來 SARS 的平靜已經成為過去。

Also watching carefully the addition of new carriers, when that might happen and, of course, their choices of technology.

也要仔細觀察新業者的增加、何時可能發生，當然還有他們對科技的選擇。

In India, again there was, I think, an expectation among operators there that they would be able to use many more handsets last quarter than they did, but as we've seen, there has been some significant growth recently, and that growth seems to be accelerating.

在印度，我認為那裡的運營商再次期望他們上個季度能夠使用比以前更多的手機，但正如我們所看到的，最近出現了一些顯著的增長，而且這種增長似乎正在加速。

And so we expect that the inventories that had built up equal with some of the manufacturers are rapidly being used up.

因此，我們預計與某些製造商相同的庫存將迅速耗盡。

WCDMA still a little slow to market, but more and more activity and, again, in 2004-2005 we expect to see that become a significant part of our business.

WCDMA 進入市場的速度仍然有點慢，但活動越來越多，並且在 2004-2005 年，我們預計它將成為我們業務的重要組成部分。

We do, of course, see the chipset competition, although I think as far as chips not in Nokia phones, that probably will be a very small presence this coming year.

當然，我們確實看到了晶片組的競爭，儘管我認為就諾基亞手機以外的晶片而言，明年這種競爭可能會很小。

So right now we're very pleased with the performance year over year and we'll continue to try to introduce new products rapidly, work with our operators, customers, manufacturers to continue to build the business.

因此，現在我們對逐年的表現感到非常滿意，我們將繼續嘗試快速推出新產品，與我們的營運商、客戶、製造商合作，並繼續發展業務。

Thank you-all very much for your presence.

非常感謝大家的光臨。

Ladies and gentlemen, as a reminder, to access the rebroadcast, please dial 800-633-8284.

女士們、先生們，請謹此提醒，如需觀看重播，請撥打 800-633-8284。

International callers please dial 402-977-9140.

國際電話請撥 402-977-9140。

The playback reservation number is 21153017.

播放預約號碼為21153017。

That does conclude the conference call for today.

今天的電話會議到此結束。

We thank you for your participation and ask that you please disconnect your lines. [ END OF REALTIME CAPTIONING ].

我們感謝您的參與，並請您斷開線路。 [即時字幕結束]。