Joseph Zhou: I have two questions. I’ll go one at a time. So firstly, for North America which had a huge decline. And can you compare the current customer inventory level for Mobile Networks comparing that to the Fixed Networks side and also specifically within the Fixed Networks, the FWA versus fiber? And I think one of your peers suggested that for the mobile side, the CSPs, their inventories have come down from up to 4 quarters at a peak to 1 to 2 quarters which is historical average now. And are you seeing the same? Are you seeing the inventory level at these customers at the kind of historical level now or not yet? That’s the first question.
Pekka Lundmark: If I comment Mobile Networks, so first, of course, we have been seeing the same trend. We saw progress in there in inventory digestion during the second quarter. At some customers, we believe they have returned to more normal inventory levels already [Technical Difficulty] which will impact the second half outlook. So this is clear but we do not believe that we are there yet. Then the fixed side, of course, we have to remember when you go back in history, 2022, you would have seen extremely strong numbers in Fixed Networks. So that’s why it’s natural to expect some normalization in spending and that’s exactly what we are seeing right now. One of the main drivers in the presentation, you saw the chart which kind of highlighted the relative contribution of different product segments in Fixed Access, is clearly fixed wireless access.
And in our case, that has been highly sensitive to a very small number of customers. And now especially in North America, now when those deployments are significantly more slow, there is inherently some volatility here. But overall, the demand for fiber is outlook is healthy across the world for fiber. That is clearly one of our strongest segments. We are a market leader in [indiscernible]. And over the coming years, we will start to see the benefit from government funding. And I already referred to earlier, for example, to the bid program that the U.S. government is putting in the investment of tens of billions that will benefit these investments.
David Mulholland: Did you have a quick follow-up, Joseph?
Joseph Zhou: Yes. Just a quick follow-up on the OPPO, Vivo situation and there has been a recent quarter ruling by the Indian Delhi High Court against OPPO. It has ordered OPPO to pay the India portion of the last patent licensing fees. And do you expect this to materialize? And what’s the timing of this? Can you talk about the implications?
Marco Wiren: Yes. Thank you, Joseph. Yes, that’s correct. There was a positive outcome from Indian court. And as I said earlier, we remain confident about that we will have a positive outcome of OPPO and Vivo negotiations and litigations and we are working to resolve these disputes with both companies. And I mentioned also earlier that not only India but other courts in different parts of the world have had positive outcomes for our part. So we hope that the more we get this positive outcomes, the more clearer [ph] that we are filling [indiscernible].
Pekka Lundmark: I think it’s really important what Marco said here to understand that when it comes to OPPO and Vivo, we are not asking anything more than what we are asking some other customers. And the deals that we have made this year with Samsung and Apple are on those levels which we have assumed as healthy targets when we put together this €1.4 billion to €1.5 billion target for run rate for mobile — not mobile but for technology. So those — both of those deals R&D level that support those targets and we feel that it’s fair to require similar levels from OPPO and Vivo as well.
David Mulholland: So we’ll take our next question from Richard Kramer from Arete.
