“From an ASP perspective, because of all the factors we discussed earlier in the call with the chips becoming way more capable, especially with GenAI, we think we are on a good trajectory to continue to expand our ASP consistent with the last three year trend.”

In context

“ere, how should we think about Qualcomm ASPs, as we progress for the next fiscal year as well. Akash Palkhiwala: Chris, it's Akash. So, as we mentioned on the call, we’ve seen kind of early signs of stabilization in the handset market, including in China. And for calendar 2023, we now expect mid to high single digit versus 2022, which is an improvement from what we had before. As we look at 2024, the recent demand stabilization obviously provides a positive setup as we go into the year. So we are cautiously optimistic on how 2024 plays out. But specifically on 5G units, which is really our target market, we expect high single digit to low double digit growth from 2023 into 2024. So that's kind of the market that we pursue and we think there's growth opportunity there going into next year. From an ASP perspective, because of all the factors we discussed earlier in the call with the chips becoming way more capable, especially with GenAI, we think we are on a good trajectory to continue to expand our ASP consistent with the last three year trend. So if you look at our last three year trend, we've added, approximately 10% increase in any tier of chipset every year. And we think as we look forward, we have the opportunity to do that, going forward. Christopher Rolland: That's a great update. Thank you. Another question for you quickly. There was some new language in your 10-K around the, European Commission proposing regulations around standard essential patents, potentially devaluing those patents I wasn't familiar with this. How serious do you think that risk could be? And are there any other meaningful developments in any other geographies? Or are we all kind of status quo? Alex Rogers: Yes. So thanks for that question. This is Alex. We've been tracking these developments in the European Union. There's actually a, variety of park”