Yifan Liang: Yes. I mean, before €“ back to the years, before 2 to 3 years. And then I mean traditionally we’ll be in the high-single-digit per year basis. But only for those same products and then I mean if you sell your same products year-over-year, yes, and we would expect some erosion there, price erosion there. The name of the game is and we rolled out new products and then we reset ASP and that’s meant by providing more efficiency or more functionality than I mean, that’s the R&D new products out for.
Craig Ellis: Absolutely, yes. I think you have a history of getting about 100 new products out a year, which does exactly that resets the price point, so totally get that dynamic. Lastly, at least in my model, operating expense came in quite favorable versus what I expected. Is that mostly tactical belt tightening or are you doing anything structurally to reduce OpEx even as you push ahead with various product programs, including the things you talked about in automotive?
Yifan Liang: OpEx for the December quarter, it was largely because of the variable compensation of , because certain guidance performance for the December quarter was not up there, so then we reduced an overall calendar year 2022 variable comp.
Craig Ellis: Got it. Thanks so much Yifan. Thanks, Stephen.
Stephen Chang: Alright.
Yifan Liang: Thank you.
Operator: Thank you. The next question comes from Jeremy Kwan with Stifel. Your line is open.
Jeremy Kwan: Yes, good afternoon, and let me also add my congratulations to both Stephen and Mike in your newer changing roles. I guess the first question I have is in terms of the linearity in the quarter, as well as the performance in March quarter, you know it sounds like orders took kind of a pretty meaningful pause and kind of especially in the last month or two. Can you give us a sense of or just more color into how things shaped out as you move throughout the end of last year and into this year? And also, any update on it in terms of the churns business that you’ve done? What it was in prior quarters and where it might be the next few quarters? Thank you.
Stephen Chang: Sure. Let me address the first part, and maybe Yifan can address the second part, but essentially we did see a further slowdown in the macro picture since the last time we talked on the earnings release. And this is coming mainly from PC and smartphones and both, kind of consumer type of products and tied to the overall inflation and reduce, kind of personal spending. And this adjustment was seen throughout the supply chain through the OEM, ODMs. There was a more significant adjustment to the changing demand. So, the last few years, we were quite strong in demand in this overall industry. So, it will take some time for some of our customers to unwind from that and to right size their inventories. So, that’s mainly affecting those particular areas in the end markets.
I want to reiterate again that our products and our position and our customers are still strong. We’re happy to have them forge stronger relationships with Tier 1 customers. And this is very important especially during this time to protect our share and, as well as very importantly getting us positioned for when the market rebounds or for their next versions of products. So, we have to deal with the overall industry slowdown, but our positions and our customers are still better than good work in previous years.
