Synaptics Inc (SYNA) 2016 Q4 法說會逐字稿

Good day and welcome to the Synaptics Fourth Quarter and Fiscal 2016 conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Ms. Jennifer Jarman. Please go ahead, ma'am.

美好的一天，歡迎參加 Synaptics 第四季和 2016 財年電話會議。今天的會議正在錄製中。現在，我想把會議交給珍妮佛·賈曼女士主持。請繼續，女士。

Thank you, Robbie. Good afternoon and thank you for joining us today on Synaptics fourth quarter and fiscal 2016 conference call. This call is also being broadcast live over the Web and can be accessed from the Investor Relations section of the company's website at synaptics.com. With me on today's call are Rick Bergman, President and CEO; and Wajid Ali, CFO.

謝謝你，羅比。下午好，感謝您今天參加 Synaptics 第四季和 2016 財年電話會議。此次電話會議也透過網路進行現場直播，您可以透過該公司網站 synaptics.com 的投資者關係部分進行存取。與我一起參加今天電話會議的是總裁兼執行長 Rick Bergman；和財務長瓦吉德·阿里。

In addition to the company's GAAP results, management will also provide supplementary results on a non-GAAP basis, which excludes share-based compensation, change in contingent consideration and certain non-cash or non-recurring items. Please refer to the press release issued after market close today for a detailed reconciliation of GAAP and non-GAAP results.

除了公司的 GAAP 業績外，管理層還將提供非 GAAP 基礎上的補充業績，其中不包括基於股份的薪酬、或有對價的變化以及某些非現金或非經常性項目。請參閱今天收盤後發布的新聞稿，以了解 GAAP 和非 GAAP 業績的詳細調整表。

Additionally, we would like to remind you that during the course of this conference call, Synaptics will make forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. Although Synaptics believes our estimates and assumptions to be reasonable, they are subject to a number of risks and uncertainties beyond our control and may prove to be inaccurate.

此外，我們想提醒您，在本次電話會議期間，Synaptics 將做出前瞻性聲明。前瞻性陳述給出了我們目前對我們的財務狀況、經營業績、計劃、目標、未來業績和業務的預期和預測。儘管 Synaptics 認為我們的估計和假設是合理的，但它們受到許多我們無法控制的風險和不確定性的影響，並且可能被證明是不準確的。

Synaptics cautions that actual results may differ materially from any future performance suggested in the company's forward-looking statements. We refer you to the company's current and periodic reports filed with the SEC, including the Synaptics Form 10-K for the fiscal year ended June 27, 2015, for important risk factors that could cause actual results to differ materially from those contained in any forward-looking statement. Synaptics expressly disclaims any obligation to update this forward-looking information. With that, I'll now turn the call over to Rick Bergman. Rick?

Synaptics 警告稱，實際結果可能與公司前瞻性聲明中建議的任何未來業績存在重大差異。我們建議您參閱該公司向SEC 提交的當前報告和定期報告，包括截至2015 年6 月27 日的財政年度的Synaptics 表格10-K，以了解可能導致實際結果與任何前瞻性報告中包含的結果存在重大差異的重要風險因素。看起來的聲明。 Synaptics 明確不承擔任何更新此前瞻性資訊的義務。現在，我將把電話轉給里克·伯格曼。瑞克？

Thanks, Jennifer, and I'd like to welcome everyone to today's call. Revenue for fiscal 2016 was approximately $1.7 billion, a slight decrease from last year, reflecting a slowdown in the high end of the smartphone market that dramatically impacted our discrete display driver business and offset growth from our biometrics and display integration solutions. Non-GAAP net income for the year was $180.5 million or $4.76 per diluted share.

謝謝詹妮弗，我歡迎大家參加今天的電話會議。 2016 財年的收入約為17 億美元，比去年略有下降，反映出高端智慧型手機市場的放緩，這極大地影響了我們的分立顯示驅動器業務，並抵消了我們的生物識別和顯示集成解決方案的成長。本年度非 GAAP 淨利為 1.805 億美元，即稀釋後每股收益 4.76 美元。

We bolstered our commitment to generating shareholder value during the year by purchasing a substantial amount of stock on the order of $241 million or 3.6 million shares, which reflects our underlying confidence in Synaptics' prospects for long-term success. Our Q4 results came in roughly as expected with strong performance in TDDI. As we indicated last quarter, we took actions in Q4 to better align our operating expenses with our annual revenue outcome. These targeted moves have reduced our overall head count, but will allow us to accelerate our strategic investments with particular focus on China.

我們透過購買大量股票（價值 2.41 億美元或 360 萬股）來加強我們在這一年中創造股東價值的承諾，這反映了我們對 Synaptics 長期成功前景的潛在信心。我們第四季的業績大致符合預期，TDDI 表現強勁。正如我們上季度所指出的，我們在第四季度採取了行動，以更好地調整我們的營運支出與年度收入結果。這些有針對性的舉措減少了我們的總人數，但將使我們能夠加快戰略投資，特別關注中國。

This region continues to be a bright spot, led by increasing momentum of our fingerprint authentication solutions and the continued expansion of the ecosystem, along with the adoption of TDDI by Chinese LCMs. As we close out the fiscal year, it's a good opportunity to revisit the market landscape for our core growth pillars. The smartphone market continues to experience slowing growth at the high end. However, we see several exciting opportunities for growth within the broader smartphone market over the next few years with the expansion of OLED displays, a clear inflection point for TDDI solutions and the acceleration of the attach rate for fingerprint authentication into mid-range and low-end phones.

由於我們的指紋認證解決方案的成長勢頭和生態系統的持續擴展，以及中國 LCM 對 TDDI 的採用，該地區仍然是一個亮點。在我們結束本財年之際，這是重新審視我們核心成長支柱的市場格局的好機會。高階智慧型手機市場的成長持續放緩。然而，隨著 OLED 顯示器的擴展、TDDI 解決方案的明顯拐點以及中低端指紋認證附加率的加快，我們看到未來幾年更廣泛的智慧型手機市場將出現一些令人興奮的成長機會。電話。

Now let's walk through how we are addressing each of these growth areas. Starting with TDDI, as we anticipated, integrated touch and display driver solutions are shaping up to be a very big market. Synaptics is the industry pioneer and leader in TDDI While other players are figuring out their TDDI strategy, the second generation family of products that we developed in conjunction with our acquired display driver expertise is now in mass production.

現在讓我們來看看我們如何解決這些成長領域的問題。從TDDI開始，正如我們預期的那樣，整合式觸控和顯示驅動器解決方案正在形成一個非常大的市場。 Synaptics 是 TDDI 領域的行業先驅和領導者，當其他廠商正在製定他們的 TDDI 策略時，我們結合所獲得的顯示器驅動器專業知識開發的第二代產品系列現已投入批量生產。

Within the global smartphone market, Android phones that utilize LCD displays represent about one billion units annually. Of this amount, we expect that exiting the calendar year, TDDI solutions will account for about 10% of the units shipped with Synaptics products commanding the majority share. As we look at the growth trajectory over the next few years, we continue to expect that more than half of Android LCD smartphone units will be based on TDDI by the end of calendar 2019.

在全球智慧型手機市場中，採用 LCD 顯示器的 Android 手機每年約佔 10 億支。其中，我們預計今年結束後，TDDI 解決方案將佔 Synaptics 產品出貨量的 10% 左右，並佔多數。當我們審視未來幾年的成長軌跡時，我們仍然預計到 2019 年底，超過一半的 Android LCD 智慧型手機將基於 TDDI。

We're staying far ahead of the curve and are now developing our next generation of TDDI products leveraging our position as the first mover and technology leader in implementing this important technology. While we expect TDDI will continue to be a substantial ongoing growth opportunity for smartphone customers wanting to incorporate the thinnest and brightest LCD panels into their mainstream design, we've also been anticipating the expanding market for higher-end displays based on OLED technology.

我們始終處於領先地位，目前正在開發下一代 TDDI 產品，利用我們作為實施這項重要技術的先驅和技術領導者的地位。雖然我們預計 TDDI 將繼續為希望將最薄、最亮的 LCD 面板納入其主流設計的智慧型手機客戶帶來巨大的持續成長機會，但我們也一直預計基於 OLED 技術的高階顯示器市場將持續擴大。

There's growing interest among our smartphone customers to adopt OLED displays in their flagship products. As an industry-leading smart display solutions provider, we work closely with our key LCM and OEM partners to shape the next generation technology. We have been in deep development of our first OLED display driver IC and remain on track to begin sampling to our partner LCMs by the end of this calendar year.

我們的智慧型手機客戶越來越有興趣在其旗艦產品中採用 OLED 顯示器。作為業界領先的智慧顯示解決方案供應商，我們與主要的 LCM 和 OEM 合作夥伴密切合作，共同塑造下一代技術。我們一直在深入開發我們的首款 OLED 顯示器驅動器 IC，並預計在今年年底前向我們的合作夥伴 LCM 提供樣品。

With our multi-year experience in providing leading-edge touch solutions to the OLED market, plus the development of our cutting-edge OLED DDIC, we expect to be very well-positioned to capitalize on the OLED opportunity as it ramps into broader volumes in 12 to 18 months. As with TDDI, the expansion in OLED is a logical extension for Synaptics based on our demonstrated smart display technology leadership, and combined, we believe that TDDI and OLED represent significant growth engines for Synaptics in the smartphone market for many years to come.

憑藉我們在向 OLED 市場提供領先觸控解決方案方面的多年經驗，加上我們尖端 OLED DDIC 的開發，我們預計將處於有利位置，能夠充分利用 OLED 機會，因為 OLED 在 OLED 領域的銷量不斷擴大。12 至18個月。與 TDDI 一樣，基於我們所展示的智慧顯示技術領先地位，OLED 的擴展是 Synaptics 的邏輯延伸，並且我們相信 TDDI 和 OLED 相結合將代表 Synaptics 未來許多年在智慧型手機市場的重要成長引擎。

Turning to fingerprint, by now, you are keenly aware of all the work we have done to expand the product family, features, and ecosystem to prime ourselves for the growing penetration of our solutions on a global basis. As we laid out last quarter, we have a significant number of new wins that are now in production and we expect to see further announcements as we move through the second half of the calendar year. We believe that we have a distinct architectural advantages with our fingerprint authentication solutions that will benefit Synaptics over time. Specifically, since our solution uses a discrete sensor, we believe our technology provides a better road map towards shrinking solutions in order to be able to provide both small and large sensors, and to ultimately go under glass and into the display.

談到指紋，到目前為止，您已經敏銳地意識到我們為擴展產品系列、功能和生態系統所做的所有工作，以便為我們的解決方案在全球範圍內不斷滲透做好準備。正如我們上季度所闡述的那樣，我們有大量新的成果正在生產中，我們預計在今年下半年會看到更多公告。我們相信，我們的指紋認證解決方案擁有獨特的架構優勢，隨著時間的推移，這將使 Synaptics 受益。具體來說，由於我們的解決方案使用分立感測器，我們相信我們的技術為縮小解決方案提供了更好的路線圖，以便能夠提供小型和大型感測器，並最終進入玻璃下方並進入顯示器。

Now that we've covered our view on overall markets, let's drill down into some of the specifics around Q4. Synaptics TouchView TDDI solutions combine our industry-leading touch controller IP and systems level expertise with our leading-edge display driver technology into a single device. TouchView delivers lower overall system costs, simplifies the supply chain, and enables thinner devices, brighter displays and borderless designs. Our second-generation TouchView TDDI portfolio features four different products, covering resolutions from HD to Full HD to WQHD.

現在我們已經介紹了對整體市場的看法，讓我們深入了解第四季度的一些具體情況。 Synaptics TouchView TDDI 解決方案將我們業界領先的觸控控制器 IP 和系統級專業知識與我們領先的顯示器驅動器技術結合到一個設備中。 TouchView 可降低整體系統成本，簡化供應鏈，並實現更薄的裝置、更亮的顯示器和無邊框設計。我們的第二代 TouchView TDDI 產品組合包含四種不同的產品，涵蓋從高清到全高清再到 WQHD 的解析度。

We are extremely pleased to report significant traction in customer adoption and design win activity for our TouchView solutions, which highlights our market leadership and first-to-market advantage. This momentum is highlighted by our second-generation TDDI solutions now shipping in mass production in the latest LG electronic smartphones and we look forward to showcasing additional designs from other global smartphone OEMs in the very near future.

我們非常高興地報告我們的 TouchView 解決方案在客戶採用和設計贏得活動方面取得了顯著的進展，這凸顯了我們的市場領導地位和率先進入市場的優勢。我們的第二代 TDDI 解決方案現已在最新的 LG 電子智慧型手機中大量生產，這凸顯了這一勢頭，我們期待在不久的將來展示其他全球智慧型手機 OEM 廠商的更多設計。

Turning to new products on the touch controller side, we announced two new feature-rich ClearPad touch screen controllers to address the high volume, value-priced and mid-tier smartphone, tablet and convertible PC markets. These discrete touch screen controller solutions reduce overall costs for OEMs and ODMs while retaining many of the key features of Synaptics flagship portfolio, including moisture performance, low power wake-up gestures, and excellent touch performance while wearing gloves.

談到觸控控制器方面的新產品，我們發布了兩款功能豐富的新 ClearPad 觸控螢幕控制器，以滿足大批量、高性價比和中階智慧型手機、平板電腦和可轉換 PC 市場的需求。這些分離式觸控螢幕控制器解決方案可降低 OEM 和 ODM 的整體成本，同時保留 Synaptics 旗艦產品組合的許多關鍵功能，包括防潮性能、低功耗喚醒手勢以及戴手套時出色的觸控效能。

They are ideal solutions for our customers looking to incorporate high-quality and feature-rich touch screens on their value-priced products, enabling them to offer consistent touch screen capabilities across their entire lineup. We also announced availability of a new touch screen controller solution for higher end phones that require premium touch performance and longer battery life, but do not need flagship features such as ClearForce or SideTouch.

對於希望將高品質和功能豐富的觸控螢幕融入其超值產品的客戶來說，它們是理想的解決方案，使他們能夠在整個產品系列中提供一致的觸控螢幕功能。我們也宣布推出一款新的觸控螢幕控制器解決方案，適用於需要卓越觸控性能和更長電池壽命但不需要 ClearForce 或 SideTouch 等旗艦功能的高階手機。

This solution delivers many innovative features, including multi-finger touch performance with moisture on the screen, low power wake-up gestures, support for one millimeter passive pen, thick gloves touch support and FaceDetect Plus, which eliminates the need for a proximity sensor. It also integrates Synaptics high-performance analog touch-sensing circuitry to address noise generated by displays that feature Full HD, WQHD, or 4K resolutions.

該解決方案提供了許多創新功能，包括螢幕潮濕時的多指觸控效能、低功耗喚醒手勢、對一毫米被動筆的支援、厚手套觸控支援以及無需接近感應器的 FaceDetect Plus。它還整合了 Synaptics 高效能類比觸控感應電路，以解決全高清、WQHD 或 4K 解析度顯示器產生的雜訊。

Now moving to our biometrics solutions, we continue to maintain our leading market share with our largest fingerprint customers in the smartphone and PC markets, including Samsung and Lenovo. And last quarter, we shared our success in securing over 20 design-ins, including several new customers in Asia. We are very pleased to see these smartphones begin to roll out in mass production.

現在轉向我們的生物辨識解決方案，我們繼續在智慧型手機和個人電腦市場上最大的指紋客戶（包括三星和聯想）中保持領先的市場份額。上個季度，我們分享了 20 多個設計專案的成功，其中包括亞洲的幾家新客戶。我們很高興看到這些智慧型手機開始大量生產。

During the quarter, we announced new fingerprint sensor design wins with ASUS in Taiwan and TCL in China. ASUS launched award-winning flagship smartphones, featuring our one-touch fingerprint sensors. TCL launched smartphones with its Vodafone partner in the UK, and it's launching its Alcatel brand of smartphones in the U.S. in August. Other TCL phones are slated soon for global markets.

本季度，我們宣布贏得台灣華碩和中國 TCL 的新指紋感應器設計。華碩推出了屢獲殊榮的旗艦智慧型手機，配備一鍵式指紋感應器。 TCL 與其沃達豐合作夥伴在英國推出了智慧型手機，並於 8 月在美國推出了阿爾卡特品牌的智慧型手機。其他 TCL 手機也將很快投放到全球市場。

Our module maker partners and IHVs in China are very busy fulfilling mass production purchase orders to service all of the Tier 1 smartphone OEMs in the region and we expect a rollout of new smartphones featuring our fingerprint sensors to gain momentum through the second half of the calendar year.

我們在中國的模組製造商合作夥伴和 IHV 正忙於履行批量生產採購訂單，為該地區所有一級智慧型手機 OEM 提供服務，我們預計採用我們的指紋感應器的新型智慧型手機的推出將在下半年獲得動力年。

Key to our ability to continue these design wins is that Synaptics offers unmatched security features and a full slate of fingerprint ID solutions with form factors that can be designed into front buttons, rear panels, and edges of devices. We also continue to invest heavily in next-generation fingerprint technologies, addressing button-free industrial designs, including significant R&D resources into developing solutions that work under the cover glass and in the display. We expect our first under-glass solutions to come to market in the first half of calendar 2017.

我們能夠繼續取得這些設計勝利的關鍵是 Synaptics 提供無與倫比的安全功能和一整套指紋 ID 解決方案，其外形尺寸可設計到裝置的前按鈕、後面板和邊緣。我們也持續大力投資下一代指紋技術，解決無按鈕工業設計問題，包括將大量研發資源用於開發在玻璃蓋板和顯示器下工作的解決方案。我們預計我們的首款玻璃下解決方案將於 2017 年上半年上市。

Working closely with our key customers, we are also actively demonstrating and integrating our next-generation fingerprint sensors into the displays of smartphones. Because of our unique, patented sensor architecture that separates the sensing array from control IC, Synaptics is leading this transition from discrete fingerprint products to those that will be integrated into the displays of smartphones and other consumer devices.

我們還與主要客戶密切合作，積極展示下一代指紋感應器並將其整合到智慧型手機的顯示器中。由於我們獨特的專利感測器架構將感測陣列與控制 IC 分開，Synaptics 正在引領從離散指紋產品向整合到智慧型手機和其他消費性裝置顯示器中的指紋產品的轉變。

With the rapid adoption of mobile payments and online purchasing, verifying the identity of the person doing the transaction is critical in combating fraud. Synaptics is the only fingerprint supplier that offers a complete end-to-end security system with our products. Our SentryPoint security suite encompasses an array of proprietary features, including advanced cryptography, secure communications between the fingerprint system and host device, matching sensor architecture and market-leading anti-spoof technologies. These award-winning and highly secure authentication features are unmatched in the industry and are now being integrated in our customers' smartphones.

隨著行動支付和線上購買的迅速普及，驗證交易者的身份對於打擊詐欺至關重要。 Synaptics 是唯一一家透過我們的產品提供完整的端到端安全系統的指紋供應商。我們的 SentryPoint 安全套件包含一系列專有功能，包括先進的加密技術、指紋系統和主機設備之間的安全通訊、相符的感測器架構和市場領先的反欺騙技術。這些屢獲殊榮且高度安全的身份驗證功能在業界是無與倫比的，現在已整合到我們客戶的智慧型手機中。

Another introduction is our new ultra-small form factor USB module that enables fingerprint authentication on any notebook PC. Synaptics USB dongle is a turnkey solution for OEMs, ODMs, and private labels, enabling them to offer their customers an easy-to-use and inexpensive fingerprint alternative for PCs lacking integrated biometric sensors. The dongle is fully housed, ready-to-use fingerprint module, small enough to remain unobtrusively installed in any notebook USB port. Following a simple user enrollment procedure, secure authentication is completed with a single touch of a finger, enabling swift PC access and the full use of Windows Hello and Microsoft Passport. This low-cost turnkey solution can easily be bundled by OEMs or sold separately.

另一個介紹是我們全新的超小型 USB 模組​​，可在任何筆記型電腦上進行指紋驗證。 Synaptics USB 加密狗是 OEM、ODM 和自有品牌的交鑰匙解決方案，使他們能夠為客戶提供易於使用且價格低廉的指紋替代方案，適用於缺乏整合式生物辨識感測器的 PC。該加密狗是完全封裝的、即用型指紋模組，其尺寸足夠小，可以不引人注目地安裝在任何筆記型電腦 USB 連接埠中。經過簡單的使用者註冊程式後，只需用手指輕觸一下即可完成安全身份驗證，從而實現快速的 PC 存取並充分利用 Windows Hello 和 Microsoft Passport。這種低成本的交鑰匙解決方案可以輕鬆地由 OEM 捆綁或單獨銷售。

Wrapping up biometrics, on the automotive front, we also announced broad availability of our fingerprint sensor evaluation kit, specifically targeted at the automotive industry. Our Automotive EVK enables designers and engineers to rapidly integrate fingerprint sensors into prototypes and demo systems inside the vehicle or in the lab. Synaptics' fingerprint sensors not only provide biometrics with advanced encryption capability, but can also recognize user input gestures, including swipes, taps and long presses.

在總結汽車方面的生物辨識技術時，我們也宣布了指紋感測器評估套件的廣泛可用性，特別針對汽車產業。我們的汽車 EVK 使設計人員和工程師能夠快速將指紋感測器整合到車輛內或實驗室的原型和演示系統中。 Synaptics 的指紋感應器不僅為生物辨識提供先進的加密功能，還可以辨識使用者輸入手勢，包括滑動、輕擊和長按。

This combination of biometrics and user input capabilities makes them ideal for automotive applications such as driver-based personalization, in-car payments and services, and interaction with in-vehicle infotainment systems and instrument clusters where minimal physical clutter, intuitiveness of use and minimization of driver distractions are key requirements. While on the topic of automotive, we continue to invest R&D resources with new auto-specific display drivers, touch controllers and integrated solutions that support high-resolution instrument cluster displays in high-performance center stack for touch screens.

生物識別技術和用戶輸入功能的結合使它們成為汽車應用的理想選擇，例如基於駕駛員的個人化、車內支付和服務，以及與車載資訊娛樂系統和儀錶板的交互，其中物理混亂最小化、使用直覺性和最小化駕駛分心是關鍵要求。在汽車主題上，我們繼續投入研發資源，開發新的汽車專用顯示驅動器、觸控控制器和整合解決方案，支援觸控螢幕高性能中心堆疊中的高解析度儀表板顯示。

On the notebook side, we are at the forefront of a new-generation of TouchPad and SecurePad technologies and had the opportunity to showcase our solutions at Computex to a very receptive customer base. A lot of our exciting design activity is already underway, leveraging our latest biometric authentication capabilities to address a rapidly expanding ecosystem, such as online payments and Windows 10 adoption. Some new products shipping during the quarter featuring Synaptics TouchPad include the HP Spectre family, the Lenovo Yoga family, and the Dell 3000, 5000, and 7000 series of notebooks.

在筆記型電腦方面，我們處於新一代 TouchPad 和 SecurePad 技術的前沿，並有機會在 Computex 上向非常樂於接受的客戶群展示我們的解決方案。我們許多令人興奮的設計活動已經開始，利用我們最新的生物識別身份驗證功能來解決快速擴展的生態系統，例如線上支付和 Windows 10 採用。本季推出的一些採用 Synaptics TouchPad 的新產品包括 HP Spectre 系列、Lenovo Yoga 系列以及 Dell 3000、5000 和 7000 系列筆記型電腦。

Before I turn the call over to Wajid, I'd like to mention that as with many others in our industry, given the dynamic nature of our markets and expansion of our business over the last few years into multiple facets of those markets, it's become more and more difficult to provide guidance on an annual basis with an acceptable level of precision. Therefore, as you've seen in our press release, we are providing only directional annual guidance for fiscal 2017.

在我把電話轉給瓦吉德之前，我想提一下，與我們行業中的許多其他人一樣，考慮到我們市場的動​​態性質以及過去幾年我們業務擴展到這些市場的多個方面，它已經成為每年提供可接受的精度水準的指導變得越來越困難。因此，正如您在我們的新聞稿中所看到的，我們僅提供 2017 財年的定向年度指導。

As a company, we have created a strong platform for growth with a business model targeting around 15% annual growth. As we've said in the past, some years we may exceed that goal and other years we may fall short. Much of that growth will come on in an organic basis and periodically it will be further fueled by acquisitions as we continue to proactively pursue opportunities under the human interface umbrella.

作為一家公司，我們創建了一個強大的成長平台，其商業模式的目標是每年成長 15% 左右。正如我們過去所說，有些年份我們可能會超過這個目標，有些年份我們可能會達不到目標。大部分成長將在有機基礎上實現，並且隨著我們繼續積極主動地在人機介面保護傘下尋求機會，收購將定期進一步推動成長。

In the interim, we are coming off a year in which we saw a material reduction in customer-specific revenue at the high-end of the smartphone market. And prudence dictates that we prepare for further declines in our discrete, display driver business in the current year due to lower end customer demand for high-end solutions. However, our investments are starting to pay off, which should help offset this delta and allow revenue to remain relatively flat in fiscal 2017 based on large expected gains from TDDI and fingerprint.

在此期間，我們看到高階智慧型手機市場的客戶特定收入大幅減少。謹慎的態度表明，由於低端客戶對高端解決方案的需求，我們必須做好今年分立式顯示驅動器業務進一步下滑的準備。然而，我們的投資開始獲得回報，這應該有助於抵消這一增量，並根據 TDDI 和指紋的巨大預期收益，使 2017 財年收入保持相對穩定。

Additionally, as we look beyond fiscal 2017, we believe our development activities position us for significant opportunities with new and expanding growth pillars, including OLED technology as well as automotive, which should help put us back on track towards our long-term growth target.

此外，展望2017 財年之後，我們相信我們的開發活動為我們帶來了新的和不斷擴大的成長支柱的重大機遇，包括OLED 技術和汽車，這將有助於我們回到實現長期成長目標的軌道。

Fundamentally, our long-term business prospects remain sound. We remain unwavering in our focus on growth and are confident that we are channeling our efforts into the right areas and making the right investments to maintain our technology leadership and strengthen the foundation for the company's long-term success.

從根本上講，我們的長期業務前景仍然良好。我們堅定不移地專注於成長，並有信心將我們的努力投入到正確的領域並進行正確的投資，以保持我們的技術領先地位並鞏固公司長期成功的基礎。

As we close out the year, I'd like to thank our employees around the world for their resolute commitment and support.

在這一年即將結束之際，我要感謝我們世界各地的員工的堅定承諾和支持。

With that, I'll now turn it over to Wajid.

有了這個，我現在將把它交給瓦吉德。

Thanks, Rick. Revenue for the June quarter was $323.9 million, slightly above the midpoint of our guidance range while revenue for fiscal 2016 was $1.67 billion, down 2%, compared to last fiscal year. Sequentially, June quarter revenue declined 20% and year-over-year was down 32%, primarily reflecting lower-end customer demand that impacted our display driver solutions along with a mix shift towards lower end display driver products. During the quarter, we had three customers above the 10% threshold.

謝謝，瑞克。 6 月季度的營收為 3.239 億美元，略高於我們指引範圍的中點，而 2016 財年的營收為 16.7 億美元，比上一財年下降 2%。隨後，6 月季度營收下降 20%，年減 32%，主要反映了低端客戶需求影響了我們的顯示驅動器解決方案，以及向低端顯示驅動器產品的混合轉變。本季度，我們有 3 位客戶超過 10% 的門檻。

Revenue mix from mobile and PC products was approximately 88% and 12%, respectively. Revenue from mobile products was down 33%, compared with the year-ago quarter and down 19% sequentially. Revenue from PC products was down 27% year-over-year and down 20% sequentially.

來自行動和 PC 產品的收入組合分別約為 88% 和 12%。行動產品營收較去年同期下降 33%，較上季下降 19%。 PC 產品營收年減 27%，季減 20%。

I will now provide a high-level review of certain of our June quarter and fiscal 2016 GAAP results and will follow with the corresponding non-GAAP results. For the June quarter, our GAAP gross margin was 33.4%, which includes $12.8 million of intangible asset amortization and $500,000 of share-based compensation costs. GAAP operating expenses in the June quarter were $133.1 million, which includes share-based compensation of $15.4 million; restructuring costs of $6.7 million, consisting primarily of severance costs; a charge for impairment of intangible assets of $6.7 million, consisting primarily of ThinTouch intangible assets; and acquisition-related costs of $4.6 million, consisting of intangibles amortization

我現在將對我們 6 月季度和 2016 財年 GAAP 業績進行高級別審查，隨後將提供相應的非 GAAP 業績。 6 月季度，我們的 GAAP 毛利率為 33.4%，其中包括 1,280 萬美元的無形資產攤銷和 50 萬美元的股權激勵成本。 6 月季度的 GAAP 營運費用為 1.331 億美元，其中包括 1,540 萬美元的股權激勵；重組費用為 670 萬美元，主要包括遣散費；無形資產減損費用為 670 萬美元，主要包括 ThinTouch 無形資產；與收購相關的費用為 460 萬美元，包括無形資產攤銷

Our GAAP tax rate was 4.5% for fiscal 2016. The decline in our GAAP tax rate is primarily related to changes in our current year geographic revenue and profit mix and incremental research credits. In the June quarter, we had a GAAP net loss of $7.1 million, or $0.19 per diluted share. And for fiscal 2016, GAAP net income was $72.2 million or $1.91 per diluted share.

2016 財政年度我們的 GAAP 稅率為 4.5%。我們 GAAP 稅率的下降主要與我們本年度地理收入和利潤組合以及增量研究積分的變化有關。在六月季度，我們的 GAAP 淨虧損為 710 萬美元，即稀釋後每股虧損 0.19 美元。 2016 財年，GAAP 淨利為 7,220 萬美元，即稀釋後每股收益 1.91 美元。

Now turning to certain of our June quarter and fiscal 2016 non-GAAP results. Our June quarter non-GAAP gross margin of 37.5% was slightly below the midpoint of our guidance range and primarily reflects overall product mix, including the dynamics in our display driver products that I mentioned earlier. June quarter non-GAAP operating expenses were in line with our expectations at $99.7 million, down $3.3 million from the preceding quarter. For fiscal 2016, our non-GAAP tax rate was 17%. Non-GAAP net income for the June quarter was $17.3 million or $0.46 per diluted share, a 72% decline year-over-year as compared with $61.2 million or $1.57 per diluted share in the fourth quarter of fiscal 2015. Non-GAAP net income for fiscal 2016 was $180.5 million or $4.76 per diluted share, down 18% from last fiscal year.

現在轉向我們 6 月季度和 2016 財年的某些非 GAAP 業績。我們 6 月季度的非 GAAP 毛利率為 37.5%，略低於我們指引範圍的中點，主要反映了整體產品組合，包括我之前提到的顯示器驅動器產品的動態。 6 月季度的非 GAAP 營運費用為 9,970 萬美元，符合我們的預期，比上一季減少 330 萬美元。 2016 財年，我們的非 GAAP 稅率為 17%。 6 月季度的非 GAAP 淨利潤為 1,730 萬美元，即稀釋後每股收益 0.46 美元，與 2015 財年第四季度的 6,120 萬美元，即稀釋後每股收益 1.57 美元相比，年減 72%。 2016 財年的營收為1.805 億美元，即稀釋後每股4.76 美元，較上一財年下降18%。

Turning to our balance sheet. We ended the quarter with $352 million of cash, a decrease of $54 million from the preceding quarter. Cash flow from operations was $109 million for the quarter and $252 million for the year. Employee participation in our equity incentive programs, including the associated cash tax benefits, provided net cash of $28 million for the year. Further, we used $116 million during the June quarter to repurchase approximately 5% of our shares outstanding, bringing total share repurchases during the year to $3.6 million or 9.6% of our beginning-of-year shares outstanding.

轉向我們的資產負債表。本季結束時，我們的現金為 3.52 億美元，比上一季減少了 5,400 萬美元。本季營運現金流為 1.09 億美元，全年營運現金流為 2.52 億美元。員工參與我們的股權激勵計劃，包括相關的現金稅收優惠，為本年度提供了 2,800 萬美元的淨現金。此外，我們在第二季使用了 1.16 億美元回購了約 5% 的已發行股票，使全年股票回購總額達到 360 萬美元，佔年初已發行股票的 9.6%。

Our commitment to delivering shareholder value remains a key priority for Synaptics. And with the approval by our board of an additional $100 million for our share repurchase program, we now have $233 million remaining in our authorization for stock repurchases available through July 2018.

我們對提供股東價值的承諾仍然是 Synaptics 的首要任務。隨著董事會批准額外 1 億美元用於股票回購計劃，截至 2018 年 7 月，我們的股票回購授權還剩 2.33 億美元。

Receivables at the end of June were $253 million and DSOs were 70 days, while inventories were $146 million and inventory turns were 5.6. Capital expenditures for the year were $29 million and depreciation was $31 million.

6 月底的應收帳款為 2.53 億美元，DSO 為 70 天，庫存為 1.46 億美元，庫存週轉率為 5.6。該年度資本支出為 2,900 萬美元，折舊為 3,100 萬美元。

Now I will make a few comments regarding our quarterly outlook. Based on our backlog of approximately $183 million, entering the typically backend-loaded September quarter, subsequent bookings, customer forecasts, product sell-in and sell-through timing patterns as well as expected product mix, we anticipate revenue for the September quarter to be in the range of $350 million to $390 million. We expect the revenue mix from mobile and PC products to be similar to our June quarter. This guidance reflects the lower demand profile in our display driver business, coupled with a greater mix of low-end display driver products and the lingering impact of higher end display driver products within the supply chain, which we believe will clear during the current quarter.

現在我將就我們的季度展望發表一些評論。根據我們約 1.83 億美元的積壓訂單，進入通常後端負載的 9 月份季度、後續預訂、客戶預測、產品銷售和售完時間模式以及預期的產品組合，我們預計 9 月份季度的收入為介於3.5億至3.9 億美元之間。我們預計行動和 PC 產品的收入組合將與 6 月季度相似。這項指導反映了我們的顯示驅動器業務的需求狀況較低，加上低端顯示驅動器產品的更多組合以及高端顯示驅動器產品在供應鏈中的揮之不去的影響，我們相信這些影響將在本季消除。

I will now provide GAAP outlook data for our September quarter and will follow with non-GAAP outlook data. We anticipate the stock-based compensation charge in the first quarter to be in the range of $15.5 million to $16 million. GAAP expenses in the September quarter will include additional restructuring charges in the range of $4.2 million to $4.8 million, consisting primarily of severance costs.

我現在將提供 9 月季度的 GAAP 展望數據，隨後將提供非 GAAP 展望數據。我們預計第一季的股票薪資費用將在 1,550 萬美元至 1,600 萬美元之間。第 9 季的 GAAP 費用將包括 420 萬美元至 480 萬美元的額外重組費用，其中主要包括遣散費。

Further, we anticipate a space consolidation restructuring charge of $3 million to $4 million later in fiscal 2017, as we consolidate lease office space to accommodate our smaller work force. In addition, September quarter GAAP expenses will include non-cash charges of approximately $17 million related to intangibles amortization of which approximately $12 million will be reflected in cost of sales.

此外，我們預計 2017 財年稍後的空間整合重組費用將達到 300 萬至 400 萬美元，因為我們將整合租賃辦公空間以適應規模較小的員工隊伍。此外，9 月季度的 GAAP 費用將包括約 1,700 萬美元與無形資產攤銷相關的非現金費用，其中約 1,200 萬美元將反映在銷售成本中。

I will now provide non-GAAP outlook data for our September quarter. Taking into account our overall revenue mix, we expect non-GAAP gross margin in the September quarter to remain between 37% to 38%. We expect non-GAAP operating expenses in the September quarter to decline sequentially to approximately $94 million to $96 million, reflecting savings of approximately $4 million from our recent restructuring activities.

我現在將提供 9 月季度的非 GAAP 展望數據。考慮到我們的整體收入組合，我們預計 9 月季度的非 GAAP 毛利率將保持在 37% 至 38% 之間。我們預計 9 月季度的非 GAAP 營運費用將環比下降至約 9,400 萬美元至 9,600 萬美元，反映出我們最近的重組活動節省了約 400 萬美元。

Further, we anticipate the annualized savings from all restructuring activities taken in the June quarter and to be taken in fiscal 2017 to be approximately $24 million. We anticipate our non-GAAP long-term cash-based tax rate for Q1 of fiscal 2017 to be in the range of 16% to 18%. Non-GAAP net income per diluted share for the September quarter is anticipated to be in the range of $0.85 to $1.15 per share.

此外，我們預計 6 月季度和 2017 財年實施的所有重組活動的年化節省約為 2,400 萬美元。我們預計 2017 財年第一季的非 GAAP 長期現金稅率將在 16% 至 18% 之間。 9 月季度的非 GAAP 攤薄每股淨利潤預計為每股 0.85 美元至 1.15 美元。

In closing, despite the anticipated declines in our display driver business based on lower overall end customer demand and a shift towards lower-end solutions, we're seeing double-digit growth across a broad array of our products. In light of that, we are expecting flat annual revenue year-over-year.

最後，儘管由於整體終端客戶需求下降和向低端解決方案的轉變，我們的顯示驅動器業務預計會下降，但我們的各種產品都實現了兩位數的成長。有鑑於此，我們預計年收入將與去年同期持平。

As we indicated on our last call, we have taken actions to size our operating expenses to be consistent with current revenue levels. While these actions involved very difficult decisions, we are confident they have established a solid operating expense foundation for fiscal 2017 and future periods that will allow us to accelerate reinvestments, as appropriate. We anticipate quarterly revenue will improve over the course of fiscal 2017. And as a result of our lower OpEx base, expect to deliver improved operating leverage in the business.

正如我們在上次電話會議中所表示的那樣，我們已採取行動調整營運費用，以與目前的收入水準保持一致。雖然這些行動涉及非常困難的決策，但我們相信它們已經為 2017 財年和未來時期奠定了堅實的營運支出基礎，這將使我們能夠酌情加速再投資。我們預計 2017 財年的季度收入將有所改善。由於我們的營運支出基數較低，預計業務營運槓桿將得到改善。

With that, we will now turn the call over to the operator to start the question-and-answer session. Operator?

這樣，我們現在將通話轉交給接線員以開始問答會話。操作員？

(Operator instructions). And we'll take our first question from Rajvindra Gill with Needham & Co. Please go ahead.

（操作員說明）。我們將接受 Needham & Co 的 Rajvindra Gill 提出的第一個問題。請繼續。

Yeah. Thanks for taking my questions. I appreciate it. Wajid, on the fiscal year 2017 flat annual revenue number, can you talk a little bit about what are some of the puts and takes in that guidance in a bit more detail? And how -- in terms of stress-testing that, the annual guidance number, what did you include in those -- what were some of those factors to get to a fiscal year flat number? Because, as you know, in the past, there's always a risk to annual guidance when you give those numbers.

是的。感謝您回答我的問題。我很感激。 Wajid，關於 2017 財年的年收入持平數字，您能否更詳細地談談該指南中的一些看跌期權和買入期權？以及如何——在壓力測試方面，年度指導數字，你在其中包含了什麼——其中有哪些因素可以達到財政年度的持平數字？因為，如您所知，在過去，當您提供這些數字時，年度指導總是存在風險。

Okay. Yeah. Thanks, Rajvi. So a couple of things. One of the things we mentioned on our prepared remarks is that we're providing directional guidance simply because of some of the risk factors that you mentioned. An acceptable level of precision can sometimes be difficult in this type of market.

好的。是的。謝謝，拉吉維。有幾件事。我們在準備好的評論中提到的一件事是，我們提供方向性指導只是因為您提到的一些風險因素。在此類市場中，有時很難達到可接受的精度水準。

Having said that, at a market level, we're expecting the smartphone market to have a low- to mid-single-digit growth over our fiscal year. At a product level, we're expecting to see a double-digit growth in each one of our key product line areas, whether that be our TDDI business or our fingerprint business, as well as seeing some strong stabilization in our PC business.

話雖如此，在市場層面，我們預期智慧型手機市場在本財年將出現低至中個位數的成長。在產品層面，我們預計每個關鍵產品線領域都將實現兩位數的成長，無論是 TDDI 業務還是指紋業務，並且 PC 業務將強勁穩定。

Some of that is from design wins that we've already achieved and some of that is from design-wins that we are working on, and that we're feeling confident about. The one offset that we spoke about in our prepared remarks that's hampering some of that underlying growth is what we're seeing in our display driver product line, where we're seeing both lower end customer demand as well as a mix shift towards display driver products that are more focused on lower end solutions, and therefore, having lower ASPs

其中一些來自我們已經取得的設計勝利，另一些來自我們正在努力的設計勝利，我們對此充滿信心。我們在準備好的發言中談到的一個抵消因素是我們在顯示驅動器產品線中看到的，它阻礙了一些潛在的增長，我們看到低端客戶的需求以及向顯示驅動器的混合轉變更專注於低階解決方案的產品，因此平均售價較低

So we've accounted for all of those things and have tried to be prudent and balanced in some of the success that we're seeing across our market spaces. One of the things that's really important for us is how we've done with TDDI. And when we take a look at the success we've had in our fiscal Q4 as well as the orders and backlog and bookings we're seeing in fiscal Q1 and actually right into fiscal Q2, we're quite excited about how well we're doing there. And so that's bolstering some of our confidence on fiscal 2017.

因此，我們已經考慮了所有這些因素，並試圖在我們在整個市場空間中看到的一些成功中保持謹慎和平衡。對我們來說真正重要的事情之一是我們如何使用 TDDI。當我們看到我們在第四財季取得的成功以及我們在第一財季和實際上進入第二財季看到的訂單、積壓和預訂時，我們對我們的表現感到非常興奮。在那裡做。因此，這增強了我們對 2017 財年的信心。

Rick mentioned the design-in activities on fingerprint. And that's also factoring in. But it's really the success we're seeing on TDDI that's bolstering our confidence. And actually, if you take a look at it year-over-year, our business without the display driver product line from our one large customer is actually increasing year-over-year. So despite the market coming down overall, our core product line without the display driver product is actually improving. That's a mixture of things. With the PC market stabilizing and us getting some design-ins on the fingerprint side and the demand patterns we're seeing on TDDI. So it's a combination of all of those things. But that's really bolstering our confidence. I don't know if -- Rick might want to add to that a little bit.

Rick 提到了指紋設計活動。這也是考慮因素之一。但真正增強我們信心的是我們在 TDDI 上看到的成功。事實上，如果你逐年看一下，我們的業務（沒有來自我們一個大客戶的顯示驅動器產品線）實際上正在逐年成長。因此，儘管市場整體下滑，但我們不含顯示驅動器產品的核心產品線實際上正在改善。這是多種因素的混合體。隨著 PC 市場的穩定，我們在指紋方面進行了一些設計，並且我們在 TDDI 上看到了需求模式。所以它是所有這些事情的組合。但這確實增強了我們的信心。我不知道——里克是否想補充一點。

No. No, that's fine. Thank you.

不，不，沒關係。謝謝。

Yeah. That was really helpful. And in terms of OLED, what's the competitive landscape in OLED display driver chips? It does appear that the smartphone market is moving towards OLED and particularly at some of the major customers that you have. So wanted to get a sense in terms of how positioned you are if there's a transition from LCD to OLED, not only at your major customers or -- but also in the broader market? Who else do you -- maybe if you could categorize the competitive landscape as we go into next year.

是的。這真的很有幫助。而在OLED方面，OLED顯示驅動晶片的競爭格局如何？智慧型手機市場確實正在向 OLED 發展，特別是在一些主要客戶那裡。因此，您想了解一下，如果從 LCD 向 OLED 過渡，您的定位如何，不僅是在您的主要客戶中，還是在更廣泛的市場中？你還能做誰——也許你可以對我們明年進入的競爭格局進行分類。

Sure. Great question because I think there's quite a bit of confusion around what's required in the OLED display driver area. And from our perspective, it leverages many of the strengths, and frankly, a lot of the strengths that came along with our acquisition of RSP a couple of years ago. And at the end of the day, it's still a display driver and what differentiates us on the high end of the LCD market and why we're the consistent supplier for a number of LCD companies out there is what our image IP technologies and I know a number of you've seen our demos at our various trade shows. So whether it's our subpixel rendering, our compression technologies, our color enhancements, and so forth, low power technology that we use. All those directly apply to the OLED market as well.

當然。這是一個很好的問題，因為我認為 OLED 顯示器驅動器領域的需求存在相當多的混亂。從我們的角度來看，它利用了許多優勢，坦白說，我們利用了幾年前收購 RSP 所帶來的許多優勢。歸根結底，它仍然是一個顯示驅動器，而我們在高端 LCD 市場上的與眾不同之處以及我們為何成為許多 LCD 公司的穩定供應商的原因是我們的圖像 IP 技術和我所知道的你們中的許多人在我們的各種貿易展會上看過我們的示範。因此，無論是我們的子像素渲染、壓縮技術、色彩增強等等，我們都使用低功耗技術。所有這些也直接適用於 OLED 市場。

Now there is certain characteristics around the drivers and so on that are unique to OLED, but that's certainly something that we understand. And the reason why we express confidence in the samples that we'll have towards the latter part of this calendar year and why the same partners that we have today in the LCD markets want to work with Synaptics when they bring up their OLED lines and to go forward with major customers. OEM customers also naturally have a preference for Synaptics solutions as well.

現在，驅動器等方面存在 OLED 獨有的某些特徵，但這肯定是我們所理解的。這就是為什麼我們對今年下半年將擁有的樣品表示有信心，以及為什麼我們今天在 LCD 市場上擁有的相同合作夥伴希望在 Synaptics 推出 OLED 生產線時與他們合作，並與大客戶一起前進。 OEM 客戶自然也偏好 Synaptics 解決方案。

In terms of the competitive makeup out there, it will be the usual suspects for the same reasons why I said it naturally works for us, we'd expect to see the same guys that we compete with at the higher end of the LCD markets in the OLED market.

就競爭構成而言，這將是通常的嫌疑人，原因與我說它自然對我們有用的原因相同，我們希望看到與我們在高端 LCD 市場競爭的同樣的人。OLED市場。

Okay. And just last question from me, I'll get back in the queue. In terms of the TDDI opportunity, how does adoption of OLED displays either hurt or help the TDDI adoption? If displays are moving towards OLED, how does that impact the integration of the touch control and display driver? Does it make a difference if it's a different display or there are different requirements?

好的。就我的最後一個問題，我會回到隊列。就 TDDI 機會而言，OLED 顯示器的採用對 TDDI 的採用有何影響或幫助？如果顯示器轉向 OLED，這會對觸控控制和顯示驅動器的整合產生什麼影響？如果是不同的顯示器或有不同的要求，會有什麼不同嗎？

Okay. So first, let me broaden my answer to your question because I don't want there to be some misunderstanding again. So we're very excited about the OLED displays in the marketplace, especially, when you start talking about OLED displays. It opens up new form factors for phones, which will spur growth and then ultimately see stuff that we've only seen in the movies around displays on curved displays and transparent displays and all those different things. Given the business we're in, ultimately, that drives long-term growth for our solutions. So we're thrilled to see that.

好的。首先，讓我擴大你問題的回答，因為我不想再出現一些誤解。因此，我們對市場上的 OLED 顯示器感到非常興奮，尤其是當您開始談論 OLED 顯示器時。它為手機開闢了新的外形，這將刺激增長，並最終在曲面顯示器和透明顯示器以及所有這些不同的東西上看到我們只在電影中看到的東西。考慮到我們所處的業務，這最終將推動我們解決方案的長期成長。所以我們很高興看到這一點。

That being said, there's a reason why there's only one major supplier for small displays in the market today. It's pretty darn hard to do. And it's more costly than mature LCD displays. So we don't think suddenly we're going to wake up in 2018 and every phone is using OLED. And certainly, that's not the only reason why an end user is going to buy a phone. If that was the case, then there'd be one major supplier out there of smartphones and we know that's certainly not the case, because there's many characteristics both for the phone and around the display.

話雖如此，當今市場上只有一家小型顯示器主要供應商是有原因的。這是非常難做到的。而且它比成熟的液晶顯示器成本更高。因此，我們不會突然想到 2018 年一覺醒來，每支手機都會使用 OLED。當然，這並不是最終用戶購買手機的唯一原因。如果是這樣的話，那麼就會有一家主要的智慧型手機供應商，但我們知道情況肯定不是這樣，因為手機和顯示器周圍都有很多特性。

Now how it works out for TDDI is in some ways it's playing out pretty much how we have described the last couple of years. If you go back and look at the market projections, we showed at Analyst Day, we showed OLED growing pretty aggressively and TDDI filling in that mainstream part of the marketplace. We positioned TDDI from the very beginning to be a mainstream solution. As we look forward into 2017, 2018, indeed, most of the high-end solutions will be OLED-based, and, of course, most of the mainstream solutions then will be LCD-based, which means we have a great suite of TDDI solutions.

現在，TDDI 的運作方式在某些方面與我們過去幾年的描述非常相似。如果你回頭看看市場預測，我們在分析師日上展示了 OLED 的成長相當積極，而 TDDI 填補了市場的主流部分。我們從一開始就將TDDI定位為主流解決方案。展望2017年、2018年，事實上，大多數高階解決方案將基於OLED，當然，大多數主流解決方案將基於LCD，這意味著我們擁有一套很棒的TDDI解決方案。

As we look even further beyond that, will TDDI also apply in the OLED market? Just like initially in the LTPS market, you started out with discrete display drivers and eventually moved to TDDI. I would anticipate the same type of thing in the 2019/2020 timeframe. Exactly how that's going to roll out, it's a little early to project that.

更進一步來看，TDDI 是否也適用於 OLED 市場？就像最初在 LTPS 市場一樣，您從離散顯示器驅動器開始，最終轉向 TDDI。我預期 2019/2020 年也會發生同類型的事情。具體將如何推出，現在預測還為時過早。

And I think everybody in the marketplace is trying to figure out how do we improve yields with OLED displays, how do we increase capacity, that's their primary concern. When then you talk about things that improve supply chain like TDDI, that kind of will be the next wave like I said a couple years from now. Does that answer your question, Rajvi? I guess so.

我認為市場上的每個人都在試圖弄清楚我們如何提高 OLED 顯示器的產量，如何增加產能，這是他們最關心的問題。當你談論像 TDDI 這樣改善供應鏈的事情時，就像我幾年後所說的那樣，這將是下一波浪潮。拉吉維，這能回答你的問題嗎？大概吧。

We will take our next question from Rob Stone with Cowen & Co.

我們將接受 Cowen & Co. 的 Rob Stone 提出的下一個問題。

Hi. Thanks for taking my question. I had a couple of questions, Rick, on the subject of gross margin. I know you don't guide gross margin or revenues by segment. But, historically, we've understood DDICs to be your lowest margin segment. And you mentioned the mix shift was in that towards even lower end. I'm curious as you think about fiscal 2017, if DDICs are going to be not growing in the context of flattish or maybe even shrinking in the context of flattish total revenue in these other sectors, fingerprints and TDDI are up. does that imply that you can get to better margins through the course of the year on that mix? And in particular, how should we think about the margin profile for a TDDI chip, which combines historically the higher touch controller margin and the lower DDIC margin? That's my first question.

你好。感謝您提出我的問題。瑞克，我有幾個關於毛利率的問題。我知道你們不會按細分市場來指導毛利率或收入。但是，從歷史上看，我們認為 DDIC 是利潤率最低的細分市場。你提到混合轉變是朝著更低端的方向發展。我很好奇，當你考慮 2017 財年時，如果 DDIC 在其他部門總收入持平的情況下不會成長，甚至可能會萎縮，指紋和 TDDI 都會上升。這是否意味著您可以在這一年中透過這種組合獲得更好的利潤？特別是，我們應該如何考慮 TDDI 晶片的利潤狀況，它結合了歷史上較高的觸控控制器利潤和較低的 DDIC 利潤？這是我的第一個問題。

Okay. You got a lot of mileage out of that first question. So let me again step back a little bit. So, as Wajid referred to some mix changes within our DDIC family of products. Now there's one customer in particular that we've heard a lot about, how they've had strength in their product line towards the low end. And that has shifted some of our mix fairly significantly, especially, last quarter and as we look into this quarter, which had impacted our margin a tad bit. And that's kind of the primary reason that it's a little bit lower than maybe a few of you expected.

好的。你從第一個問題中得到了很多啟發。讓我再退一步。因此，如 Wajid 所提到的 DDIC 產品系列中的一些組合變化。現在有一位客​​戶，我們已經聽說過很多，他們如何在低階產品線中擁有優勢。這極大地改變了我們的一些組合，尤其是上個季度和本季度，這對我們的利潤率產生了一些影響。這就是它比你們中一些人的預期要低一點的主要原因。

As we move through the course of the year, I think it's a little early to project the trends. Certainly TDDI offers opportunities for better differentiation. Doing touch, you work closely with the OEMs and there are certain things that we can do that certain other touch vendors cannot do. I guess, I want to make it clear, Wajid tends to be a little more conservative than I am with his comments. But we're seeing tremendous growth in TDDI year-over-year. So really, we're off to the races now. I know we've been talking about TDDI. And we've been the pioneers in TDDI for five years. So to be honest, it's a big relief now, to say it's happening. And it's going to be a very material part of our revenue in 2017.

隨著我們度過這一年，我認為現在預測趨勢還為時過早。當然，TDDI 提供了更好的差異化機會。在觸摸方面，您與原始設備製造商密切合作，有些事情我們可以做到，而其他觸控供應商則無法做到。我想，我想澄清一下，瓦吉德的評論往往比我更保守一些。但我們看到 TDDI 逐年大幅成長。真的，我們現在就開始比賽了。我知道我們一直在談論 TDDI。五年來我們一直是 TDDI 的先驅。所以說實話，現在說這一切正在發生，真是讓人鬆了一口氣。這將成為我們 2017 年收入的重要組成部分。

And so that being said, of course, it's higher than -- the opportunity is certainly going to higher than discrete display drivers in terms of margin. But when you look at the corporate level that may not necessarily be true. So we've said, well, TDDI's going to land between a touch and a display driver device, but somewhere in between. And so that doesn't necessarily mean our corporate average is going to go up. And as we said, we're a little nervous about giving annual guidance, given the dynamics of our market, other than directionally.

話雖這麼說，當然，就利潤率而言，機會肯定會高於分立顯示器驅動器。但當你觀察公司層面時，情況可能不一定如此。所以我們說過，TDDI 將介於觸控和顯示驅動裝置之間，但介於兩者之間。因此，這並不一定意味著我們的企業平均值會上升。正如我們所說，考慮到我們市場的動​​態，除了方向性之外，我們對提供年度指導感到有點緊張。

And the same thing applies for our gross margin perspective. We're not going to give precise numbers around gross margin percentage here for the year other than to say we've given you a business model. And at this juncture, we have typically updated that during our annual financial meeting. And that's where you should think about where we would update it again if we do.

同樣的情況也適用於我們的毛利率觀點。除了說我們已經為您提供了一個商業模式之外，我們不會在此提供有關今年毛利率百分比的精確數字。此時此刻，我們通常會在年度財務會議上更新這一點。這就是您應該考慮的地方，如果我們這樣做的話，我們會在哪裡再次更新它。

Okay. I'll try and make the next one easier.

好的。我會盡力讓下一個變得更容易。

Rob, I'm just going to add one comment to that. The one thing that's - year-over-year that's really important to note is that our PC business is stabilizing year-over-year. And our PC business generally has had lower gross margins than the corporate average. So although the DDIC business is coming down year-over-year, and that should be accretive to gross margin percent, with the PC business stabilizing and starting to show some strength, that will also act as a headwind from a gross margin percent standpoint. So that's the only thing I'd add to that.

羅布，我只想對此添加一條評論。與去年同期相比，真正值得注意的一件事是我們的個人電腦業務正在逐年穩定。我們的個人電腦業務的毛利率普遍低於企業平均。因此，儘管 DDIC 業務逐年下降，並且隨著 PC 業務趨於穩定並開始顯示出一定的實力，這應該會增加毛利率，但從毛利率的角度來看，這也將成為一個阻力。這是我唯一要補充的。

Thanks, Wajid. That's helpful. The next question, hopefully, is a quick one, Rick, on the under-glass fingerprint sensor. If I remember correctly, in the past, you were expecting the first designs with that technology to shift some time in calendar 2016. Seems like it's now going to be after the end of the year. Is that because it's taking you longer or it has to do with customer-related launch timing?

謝謝，瓦吉德。這很有幫助。瑞克，希望下一個問題是關於玻璃下指紋感應器的快速問題。如果我沒記錯的話，在過去，您預計採用該技術的第一個設計會在 2016 年的某個時間發生。現在看來是在今年年底之後。這是因為它需要更長的時間還是與客戶相關的發佈時間有關？

Let me separate it into, call it, multiple. The problem with under-glass is it can mean three things. There's under-glass buttons and that continues to march forward. So there's been no delay. There's what's been called cutouts or something of that nature, which is under the cover glass where you -- then you take a little bit, thin out the glass in one particular area. I would say from an ecosystem perspective, that has slowed down a little bit as it has turned out to be more of a challenge than maybe many in the industry anticipated in terms of cost, yields and overall durability and performance.

讓我把它分成，稱之為，多重。玻璃下的問題在於它可能意味著三件事。有玻璃下的按鈕，而且還在繼續前進。所以沒有耽擱。有一種所謂的切口或類似性質的東西，它位於蓋板玻璃下方，然後您可以在一個特定區域中稍微薄化玻璃。我想說，從生態系統的角度來看，這一速度已經放緩了一點，因為事實證明，在成本、產量以及整體耐用性和性能方面，它比業內許多人預期的更具挑戰性。

And then the last piece is, well, what about in display. From the latter one, we're really encouraged as we look forward. I think in the past, I've typified it as being in research. At this juncture, I think we can clearly move it into development, and now, we actually have projects and plans where you'll see that technology. We think everybody agrees it's the ultimate solution in the one-year to two-year timeframe.

最後一件作品是展示的。從後者來看，我們在展望未來時確實受到了鼓舞。我認為過去我將其描述為研究。在這個時刻，我認為我們可以明確地將其投入開發，現在，我們實際上有專案和計劃，您將在其中看到該技術。我們認為每個人都同意這是一年到兩年內的最終解決方案。

We well take our next question from Paul Coster with JPMorgan. Please go ahead.

我們將回答摩根大通的保羅‧科斯特提出的下一個問題。請繼續。

Yeah. Thanks for taking my question. I'm a little confused on the decline in the discrete display driver business. On the one hand, I think I heard you say that the low-end of the market is going away first. But, at the same time, you also talked of the upper end of the market going to OLED. Is it kind of like a one, two hit to that discrete driver business or have I misunderstood the comments there?

是的。感謝您提出我的問題。我對分立顯示器驅動器業務的下滑感到有點困惑。一方面，我想我聽到你說低端市場首先會消失。但同時，您也談到高端市場將轉向 OLED。這是否有點像是對離散驅動程式業務的一兩次打擊，或者我誤解了那裡的評論？

Yeah. Paul, let me try it again. There's call it single-customer, short-term issues and then longer-term trends in the marketplace. So as much as I can say, for certain customers, we've seen a move more towards lower-end devices. I think it's been well-publicized this week, which puts a little margin pressure and ASP pressure on us, because they tend to use a lower end display driver.

是的。保羅，讓我再試一次。這被稱為單一客戶、短期問題，然後是市場的長期趨勢。因此，據我所知，對於某些客戶來說，我們已經看到更多地轉向低端設備。我認為這週已經廣為人知，這給我們帶來了一點利潤壓力和平均售價壓力，因為他們傾向於使用低端顯示驅動程式。

As we look towards the broader market, certainly, the overall smartphone market is just not -- or the high-end smartphone segment is fairly stagnant at this juncture. It's clearly not growing. In that case, we continue to provide certainly display drivers. But that market, of course, is moving to OLED. And we'll provide OLED drivers at the appropriate time into that marketplace. Today, we do not provide OLED drivers.

當我們展望更廣闊的市場時，當然，整個智慧型手機市場並非如此，或者說高階智慧型手機市場目前相當停滯。顯然沒有成長。在這種情況下，我們將繼續提供一定的顯示驅動程式。但這個市場當然正在轉向 OLED。我們將在適當的時候向該市場提供 OLED 驅動器。目前，我們不提供 OLED 驅動器。

Okay. I understand now. Follow-up question; unrelated, actually. Auto, you've mentioned it a few times in your prepared remarks. It doesn't quite sound like it's going to be the same -- well, it's obviously not going to be the same scale. Are we missing something? Are the ASPs higher or are the number of applications per automobile going to be higher? Can it ever be a material contributor to your business?

好的。我現在知道了。後續問題；實際上無關。 Auto，您在準備好的演講中多次提到這一點。聽起來不太像會是一樣的——嗯，顯然不會是相同的規模。我們錯過了什麼嗎？平均售價是否會更高，還是每輛車的申請數量會更高？它能為您的業務做出重大貢獻嗎？

We certainly see it as an opportunity going forward. It's just a question of time. So I think, as we mentioned, we just have to be patient and we'll continue to update you on our progress. Do we think it can be material? Absolutely. Again, the math for us, Synaptics, it will be 100 or 100-some-odd-million cars shipped per year and growing over the course of time. And we see half a dozen opportunities per vehicle whether it's an instrument cluster, or the entertainment cluster, or the back of the seat displays.

我們當然認為這是一個前進的機會。這只是時間問題。因此，我認為，正如我們所提到的，我們必須保持耐心，我們將繼續向您通報我們的進展。我們認為它可以是物質的嗎？絕對地。再說一遍，對我們 Synaptics 來說，每年的汽車出貨量將達到 100 萬或 100 多萬輛，並且會隨著時間的推移而不斷增長。我們看到每輛車有六個機會，無論是儀表組、娛樂組或座椅靠背的顯示器。

Fingerprint solutions, which we talked about quite a bit today, where there's also touch solutions as well. So you quickly can get to a pretty sizeable market that tends to have higher ASPs in the consumer market, which tends to have higher gross margins. So from that perspective, yes, it's just going to continue to be a few years. But even today, Paul, we do have -- it depends what you mean by material, it's 1% to 2% of our revenue and it has all those characteristics that I just talked about in terms of ASP and margin. But we -- clearly I want to see it be a bigger part of our revenue going forward.

指紋解決方案，我們今天討論了很多，其中也有觸控解決方案。因此，您很快就可以進入一個相當大的市場，該市場在消費市場中往往具有較高的平均售價，而消費市場往往具有較高的毛利率。所以從這個角度來看，是的，這種情況只會持續幾年。但即使在今天，保羅，我們仍然擁有——這取決於你所說的材料是什麼意思，它占我們收入的1% 到2%，並且它具有我剛才在ASP 和利潤方面談到的所有這些特徵。但我們——顯然我希望看到它成為我們未來收入的更大一部分。

Thank you.

謝謝。

And we'll take our next question from Charlie Anderson with Dougherty and Company. Please go ahead.

我們將回答多爾蒂公司的查理安德森提出的下一個問題。請繼續。

Yeah. Thanks for taking my questions. Rick, you mentioned that fingerprint was going to be a contributor to growth in fiscal 2017 and you mentioned some of the variables there earlier. As I think about that market, obviously, there's a larger number of phones fingerprint could go on, then there is the inevitable ASP declines and then there's your market share. I wonder, of those three, where the units are going in the market, where ASPs are going, and then your market share, if you could address what you're thinking to get to the flat outcome for the business and how fingerprint will contribute.

是的。感謝您回答我的問題。 Rick，您提到指紋將成為 2017 財年成長的貢獻者，並且您之前提到了其中的一些變數。當我想到這個市場時，顯然，會有更多的手機指紋可以繼續使用，然後是不可避免的平均售價下降，然後是你的市場份額。我想知道，在這三者中，這些單位將進入市場，ASP 將走向何方，然後是您的市場份額，您是否可以解決您的想法如何實現業務的穩定結果以及指紋將如何做出貢獻。

You said flat outcome?

你說結果平淡？

Flat outcome for the business, but fingerprint growing. What fingerprint has to do to help you to get to flat.

業務成果平平，但指紋不斷成長。指紋必須做什麼才能幫助您達到平坦狀態。

Okay. Just making sure we didn't miscommunicate there. So now we see very healthy growth for our fingerprint business. And to a certain degree, it's a combination of what you mentioned. There's -- certainly the attach rate is going up. So that increases the overall unit TAM or opportunity for us. There is ASP pressure. As that market opportunity opens up, it can tend to be mid or lower-end phones. So our OEMs will put a higher factor on price or cost when they're making their decision on a vender or the solution.

好的。只是確保我們沒有在那裡溝通錯誤。所以現在我們看到指紋業務非常健康的成長。在某種程度上，它是你提到的這些的結合。當然，附加率正在上升。這樣就增加了我們的整體單位 TAM 或機會。 ASP有壓力。隨著市場機會的出現，它可能會傾向於中低階手機。因此，我們的原始設備製造商在選擇供應商或解決方案時，會更加重視價格或成本。

However, there's some very interesting developments that I was talking about earlier around under-glass or in display that actually provide ASP growth opportunities. So I would say, as a general rule without going into too much specifics, we're not seeing ASP decline that potentially we had anticipated because of the richness of our solutions, but couple that with more unit opportunity as well to get that total healthy growth.

然而，我之前談到的一些非常有趣的發展圍繞著玻璃下或顯示器，實際上提供了平均售價的成長機會。所以我想說，作為一般規則，在不涉及太多具體細節的情況下，由於我們解決方案的豐富性，我們沒有看到ASP 下降，這可能是我們預期的，但結合更多的單位機會，以獲得整體健康生長。

Great. Then follow-up from me, Wajid, can you talk about any 10% customers in the quarter?

偉大的。然後我跟進，Wajid，您能談談本季 10% 的客戶嗎？

Yes, we had three customers that were over 10%.

是的，我們有三個客戶超過 10%。

Do you have the percentages offhand?

你有現成的百分比嗎？

Yes. 10%, 15% and 20%.

是的。 10%、15% 和 20%。

Perfect. Thanks so much.

完美的。非常感謝。

And we'll take our next question from Brett Simpson with Arete. Please go ahead.

我們將回答 Brett Simpson 和 Arete 提出的下一個問題。請繼續。

Yeah. Thanks very much. Rick, I had a question for you on OLED. So when you talk about shipping OLED in 12, 18 months, will you be shipping 2K resolution for mobile? And just as a follow-up, how confident are you that you can retain your largest customer in your existing LCD DDI business as they transition to OLED? And do you think you need to make any acquisitions to realize your plans in OLED? Thank you.

是的。非常感謝。 Rick，我有一個關於 OLED 的問題想問你。那麼，當您談到在 12 或 18 個月內推出 OLED 時，您會推出 2K 解析度的行動裝置嗎？作為後續問題，您對在現有 LCD DDI 業務中保留最大客戶轉向 OLED 的信心有多大？您認為您是否需要進行任何收購來實現您在 OLED 領域的計劃？謝謝。

All right, Brett. Let me answer these questions as much as I can. So fundamental, we're not going to answer -- or we're not going to announce our product or the specific devices that we're working on other than to say we're going to target more, call it, the premium part of the market that has a lot of volume on OLED. And so whether it's 2K resolution, or WQHD, or that type of thing, I'm not going to say at this point.

好吧，布雷特。讓我盡可能地回答這些問題。如此根本，我們不會回答 - 或者我們不會宣布我們的產品或我們正在開發的特定設備，而是說我們將瞄準更多目標，稱之為高級部分OLED 市場的銷量很大。所以無論是 2K 分辨率，還是 WQHD，或是類似的東西，我現在不會說。

So are we going to comment about our opportunities at a specific customer? Way too early to talk about that, nor do we generally disclose that until there's a tear-down in the marketplace. Do we need to do an acquisition for the capabilities? No. As I said, we feel very confident. The leverage between what we do on LCDs and OLED is very high. We believe we have the best development team from the RSP acquisition now supplemented with a bunch of designers in Taiwan and here in San Jose.

那麼我們要評論我們在特定客戶身上的機會嗎？現在談論這個還為時過早，而且在市場上出現拆解之前我們通常不會透露這一點。我們是否需要進行能力收購？不，正如我所說，我們非常有信心。我們在 LCD 和 OLED 領域所做的工作之間的槓桿作用非常高。我們相信，我們擁有 RSP 收購中最好的開發團隊，現在又補充了台灣和聖荷西的一群設計師。

And our display partners also believe that. And that's why, they're engaging with us to work with us on -- to bring up their very first OLED display, because what we really bring, and if you look at the LCD market, a lot of the IP technology around image quality, and so forth that I talked about earlier is well understood, because these panels now -- or this technology is 10 years.

我們的展示合作夥伴也相信這一點。這就是為什麼，他們與我們合作，推出他們的第一個 OLED 顯示器，因為我們真正帶來的是，如果你看看 LCD 市場，很多圍繞圖像質量的 IP 技術等等我之前談到的很好理解，因為這些面板現在——或者說這項技術已經有10年了。

As they bring up OLED, they want to work with the expert in image quality. And that is Synaptics in the marketplace. So it certainly gives us the opportunity to work with our display and OEM partners around the world

當他們提出 OLED 時，他們希望與影像品質方面的專家合作。這就是市場上的 Synaptics。因此，這無疑為我們提供了與世界各地的顯​​示器和 OEM 合作夥伴合作的機會

And we'll take our next question from Ambrish Srivastava. Please go ahead.

我們將回答 Ambrish Srivastava 提出的下一個問題。請繼續。

Hi. This is Gabriel Ho calling in for Ambrish. Thanks for taking my question. I would like to dive deeper into your fiscal 2017 expectation of maybe a flattish revenue. So what is your assumption in terms of the growth drivers in absolute dollars between your fingerprint sensor and your TDDI?

你好。我是加布里埃爾·何 (Gabriel Ho) 給安布里什 (Ambrish) 打電話。感謝您提出我的問題。我想更深入地了解您對 2017 財年收入可能持平的預期。那麼，您對指紋感應器和 TDDI 之間的絕對美元成長驅動因素有何假設？

Well, as we articulated, TDDI is going to have one of those huge growth percentages. Relatively small base, although we had -- as we talked about in our prepared remarks, we had a pretty good Q4 in TDDI. So as I said, the ramp finally has occurred. And we're thrilled about that. But with a full year and a lot more design wins and a lot more parts rolling to production, very, very strong growth. In fact, I couldn't really typify it as double-digit growth, because it's actually triple-digit growth.

嗯，正如我們所闡述的，TDDI 將實現巨大的成長百分比之一。儘管我們的基數相對較小，但正如我們在準備好的發言中談到的那樣，我們在 TDDI 方面的第四季度表現相當不錯。正如我所說，斜坡終於發生了。我們對此感到非常興奮。但隨著全年的發展，更多的設計勝利以及更多的零件投入生產，成長非常非常強勁。事實上，我不能真正將其描述為兩位數成長，因為它實際上是三位數成長。

So as we look at fingerprints, again, we're planning -- or believe we have a line of sight to very strong growth year-over-year. Some of it is with our existing customers. For example, the PC business is one example. Attach rates are going up there as well. We don't typically talk about that a lot. But we have very high share in the PC business. And consumers now use fingerprints on their phones. Of course, they want it on their laptops as well. And so nice attach rate and ASP increases there as existing business also moves from swipe to area.

因此，當我們再次審視指紋時，我們正在計劃——或者相信我們有能力實現同比非常強勁的成長。其中一些是與我們現有的客戶合作的。例如，個人電腦業務就是一個例子。那裡的附加費率也在上漲。我們通常不會談論太多。但我們在個人電腦業務上的份額非常高。消費者現在在手機上使用指紋。當然，他們也希望在筆記型電腦上使用它。隨著現有業務也從刷卡轉移到區域，那裡的附加率和平均售價都會增加。

And then, new customers in China is only going to add to our revenue. And new solutions, as I mentioned on a earlier question, that give us new ASP opportunities as well. So unfortunately, we're not going to break down each of our sub-businesses in terms of growth rates, but try to give you the best color on where we see the major drivers of our growth. And not surprisingly, it's the two growth drivers that we've been talking about for a couple years now.

然後，中國的新客戶只會增加我們的收入。正如我在先前的問題中提到的，新的解決方案也為我們提供了新的 ASP 機會。因此，不幸的是，我們不會根據成長率來細分每個子業務，但會盡力為您提供有關我們成長的主要驅動力的最佳資訊。毫不奇怪，這是我們幾年來一直在談論的兩個成長動力。

Thanks. And as a follow-up, on your display driver business, the discrete display, I'm referring to. And for the decline -- I mean, you expect it to decline, but how much of it is due to the units? Or it could be the pricing? Or maybe some share loss potentially?

謝謝。作為後續，關於您的顯示驅動器業務，我指的是離散顯示器。至於下降——我的意思是，你預計它會下降，但其中有多少是由於單位造成的？或者這可能是定價？或可能會損失一些股份？

So, Gabriel, it's not due to share loss. The year-over-year decline in the discrete display driver business has really to do with two things. One is, is that there is lower end customer demand. And I think the lower end customer demand has been pretty well publicized. So I don't think I need to get into that anymore.

所以，加布里埃爾，這不是因為股份損失。分立顯示驅動器業務的同比下滑實際上與兩件事有關。一是終端客戶需求較低。我認為低端客戶的需求已經得到了很好的宣傳。所以我認為我沒有必要再討論這個問題了。

And then the second thing is a shift in product mix. So whereas in fiscal year 2016 at least for the first three quarters, we were primarily supplying higher end display driver products, in Q4 fiscal 2016 we started seeing strong demand for lower end solutions and lower end display drivers for that customer. And we see that continuing throughout our fiscal year. And so with lower end solutions, you have lower ASPs and lower gross margins. And so when you multiply that out by millions of units that can have a material effect on your year-on-year revenue. So really those are the two things. We haven't had any market share loss with that customer.

第二件事是產品結構的轉換。因此，儘管在 2016 財年至少前三個季度，我們主要供應高端顯示驅動器產品，但在 2016 財年第四季度，我們開始看到該客戶對低端解決方案和低端顯示驅動器的強勁需求。我們看到這種情況在我們的整個財年中持續存在。因此，對於低階解決方案，平均售價和毛利率都會較低。因此，當您將其乘以數百萬單位時，可能會對您的同比收入產生重大影響。所以這確實是兩件事。我們與該客戶的市佔率沒有損失。

We will take our next question from Jagadish Iyer with Redstone. Please go ahead.

我們將回答 Jagadish Iyer 和 Redstone 提出的下一個問題。請繼續。

Yeah. Thanks so much for taking my question. Two questions. First, Rick, one of your European competitors recently articulated that their market share would be at their high end of their initial targeted range. So I just wanted to understand where do you see the opportunity for biometrics over the next 12 months and where can we hear more socket wins possible for you? And then I have a follow-up.

是的。非常感謝您提出我的問題。兩個問題。首先，里克，您的一位歐洲競爭對手最近明確表示，他們的市場份額將處於最初目標範圍的高端。所以我只是想了解您在未來 12 個月中在哪些方面看到了生物辨識技術的機會，以及我們在哪裡可以聽到您可能獲得更多的機會？然後我有一個後續行動。

Sure. So, I guess, I can't really comment on what our competitors say. We have some colorful ones out there. So I worry about our business and our opportunities, I kind of talk through that. We're definitely bringing on new customers. You've heard TCL and ASUS over the last 30-or-so days and we expect through the course of the calendar year to continue to announce new ones. Some high volume solutions. And then, our existing customers, there are some opportunities to increase ASP as well as grab -- as they move into mainstream and lower end solutions, grab those opportunities as well. So there's, call it, not one driving factor. There's multiple factors there moving forward. And that will allow our business to grow at a nice healthy clip versus fiscal 2016.

當然。所以，我想，我無法真正評論我們的競爭對手的言論。我們有一些色彩繽紛的東西。所以我擔心我們的業務和機會，我對此進行了討論。我們肯定會帶來新客戶。在過去大約 30 天裡，您已經聽說過 TCL 和華碩，我們預計在這一年中將繼續發布新產品。一些大容量解決方案。然後，我們現有的客戶，有一些提高 ASP 的機會，並抓住這些機會——當他們進入主流和低端解決方案時，也要抓住這些機會。所以，可以這麼說，沒有一個驅動因素。未來有多種因素在推動。與 2016 財年相比，這將使我們的業務實現健康成長。

Just to dive on the OLED side, I wanted to understand are there really customers right now who are doing TDDI on an OLED situation at this point of time or we don't have anybody at this point of time and when do you think that the market is ready for that, in your opinion?

只是為了深入探討 OLED 方面，我想了解目前是否真的有客戶在 OLED 情況下進行 TDDI，或者我們目前沒有任何人，您認為什麼時候您認為市場已經準備好了嗎？

Yes. I somewhat touched on that in an earlier question. Many vendors are ramping up -- I think actually every vendor is ramping up production from prior volume levels, which in many cases is zero to higher volume levels in the future. And so their focus at this juncture is to not change too many variables at once. And so use discrete display drivers for the short term, work on the yields, work on the quality issues that potentially they could have, imaging, those type of areas.

是的。我在之前的問題中稍微談到這一點。許多供應商都在提高產量——我認為實際上每個供應商都在從先前的產量水平提高產量，在許多情況下，未來的產量水平是零到更高。因此，他們此時此刻的重點是不要一次改變太多變數。因此，短期內使用分立顯示驅動器，研究產量，研究可能存在的品質問題，成像，這些類型的區域。

And then let's think about how we could do display integration solutions like TDDI, or In-Cell, and so on. We're having very early discussions on those. But we're aligned with them. But let's get that initial production up and running or increasing the production that they already have. So it's hard to put exact timing on when the transition to other solutions may occur. But, as you heard, I said more in 2019/2020 timeframe.

然後我們來考慮如何做顯示整合解決方案，例如 TDDI、In-Cell 等。我們正在就這些問題進行非常早期的討論。但我們與他們保持一致。但是，讓我們啟動並運行初始生產或增加他們已有的生產。因此，很難確定何時會轉向其他解決方案。但是，正如您所聽到的，我在 2019/2020 年的時間範圍內說了更多。

We'll take our next call from Osten Bernardez with Cross Research. Please go ahead.

我們將接聽來自 Cross Research 的 Osten Bernardez 的下一次電話。請繼續。

Yes. Good afternoon. Thanks for taking my questions. To begin, I guess, I was just wondering if you could perhaps add a little bit more color on the OLED question and I was just wondering whether you anticipate your early shipments of OLED DDICs potentially coming from customers in China, Japan, or Korea. Can you give any color to that?

是的。午安.感謝您回答我的問題。首先，我想，我只是想知道您是否可以在 OLED 問題上添加更多顏色，我只是想知道您是否預計 OLED DDIC 的早期發貨可能來自中國、日本或韓國的客戶。你能給它任何顏色嗎？

It's kind of as broadly as I can. The advantage that we have and one of the key reasons for the RSP acquisition a couple years ago was to give us a major international presence and worldwide scale. And from that perspective, I think we are unmatched. We have a very substantial team in Japan. We have a substantial team in Taiwan. I mentioned the U.S. team. And also, we work very closely with the Korean vendors as well. So the one we can talk about, of course, is we have the preferred touch solution for OLED panels out there in the marketplace today. And that gives us a lot of intelligence and feeling in terms of that technology there. So okay. There's Korea.

這是我所能做到的盡可能廣泛的。我們擁有的優勢以及幾年前收購 RSP 的關鍵原因之一是讓我們擁有重要的國際影響力和全球規模。從這個角度來看，我認為我們是無與倫比的。我們在日本擁有一支非常強大的團隊。我們在台灣擁有一支實力雄厚的團隊。我提到了美國隊。此外，我們也與韓國供應商密切合作。當然，我們可以談論的是，我們擁有當今市場上首選的 OLED 面板觸控解決方案。這給了我們很多關於那裡的技術的智慧和感覺。那麼好吧。有韓國。

You can imagine with a large display team in Japan, we're probably working with the Japanese. And there's a reason we put a large display team in Taiwan and so we'll be working with display manufacturers in China and Taiwan. Given our scale in this business, we pretty much have to work with those -- depending on how you count it -- three or four major geographic areas. It's tough to exclude one.

你可以想像在日本有一個大型的展示團隊，我們可能正在與日本人合作。我們在台灣設立大型顯示器團隊是有原因的，因此我們將與中國大陸和台灣的顯示器製造商合作。考慮到我們在這項業務中的規模，我們幾乎必須與三個或四個主要地理區域合作（取決於您如何計算）。很難排除其中一個。

And that's the advantage that Synaptics brings. We're really the only vendor that brings that type of capability to work with display manufacturers across these geographies. And that's why OEMs, when I talk about OEMs, branded OEMs at the smartphone level like to work with Synaptics because of that scale and reach.

這就是 Synaptics 帶來的優勢。我們確實是唯一能夠與這些地區的顯示器製造商合作提供此類功能的供應商。這就是為什麼當我談論 OEM 時，智慧型手機等級的品牌 OEM 喜歡與 Synaptics 合作，因為其規模和覆蓋範圍。

Thank you. And then, lastly for me. Can you remind me sort of how -= with respect to TDDI, how do you envision -- I know it's early, but I'm just trying to get a sense -- your share playing out with TDDI when you think of that market, TDDI penetration reaching 50%, let's say, by 2019, can Synaptics still hold at least 50% share in that space by then or how are you thinking about that?

謝謝。然後，最後對我來說。你能否提醒我，關於 TDDI，你如何設想——我知道現在還為時過早，但我只是想了解一下——當你想到這個市場時，你的份額會與 TDDI 一起發揮作用， TDDI 滲透率達到50%，假設到2019 年，Synaptics 能否在該領域保持至少50% 的份額，或者您對此有何看法？

Your leading assumption was correct. It's early to make projections out that far. So obviously, being a first mover gives us a nice advantage. And over the next few quarters, certainly, we'll be able to hold majority share. Realistically, though, as we look forward, I don't think anyone has ever been able to hold majority share in any technology class in the display driver business. And so our share will invariably move lower. Is it 30%, 20%? I couldn't really tell you at this juncture. And a lot of it's to be determined. We have to continue to innovate, bring new value, bring new lower-cost solutions, all those different things, to hold the share in the leadership position. But that's certainly what we want to do as a company to be the leading TDDI vendor.

你的主要假設是正確的。現在做出目前的預測還為時過早。顯然，身為先行者為我們帶來了很大的優勢。當然，在接下來的幾個季度中，我們將能夠持有多數股權。但實際上，正如我們展望的那樣，我認為沒有人能夠在顯示驅動器業務的任何技術類別中佔據多數。因此我們的份額將不可避免地下降。是30%還是20%？這時候我真的無法告訴你。其中很多有待確定。我們必須繼續創新，帶來新的價值，帶來新的低成本解決方案，所有這些不同的東西，才能保持領先。但這當然是我們作為一家公司想要成為領先 TDDI 供應商的目標。

We have no further questions at this time. I will now turn the program back over to our presenters for any additional or closing remarks.

目前我們沒有進一步的問題。我現在將把節目交還給我們的主持人，以供補充或結束語。

Okay. This is Rick Bergman again. Thank you for joining us on the call today. It was a pleasure getting all those great questions. We look forward to updating you through the quarter or certainly at the next call in October. Thank you.

好的。這又是里克·伯格曼。感謝您今天加入我們的電話會議。很高興收到所有這些好問題。我們期待在整個季度或 10 月的下一次電話會議上向您通報最新情況。謝謝。

This concludes today's program. Thank you for your participation. You may now disconnect.

今天的節目到此結束。感謝您的參與。您現在可以斷開連線。