Andrew Gardiner: Is it possible to help us a little bit in terms of the region or two that might be a little bit better than normal as a result of that? And just obviously, we’ve had your competitor Ericsson earlier this week, and I fully take your point that the phasing through the year for the different operators and different vendors is going to be a little bit different depending on exactly what you’re doing for them and where in the country. But just it would be helpful to understand where you might be seeing a better trend in the fourth quarter?
Marco Wiren: Yes. We haven’t given any specific guidance on this. But if you look at different business as well and how they performed in quarter three and Pekka alluded to this as well that we believe, for example, that NI side, in Network Infrastructure side, that we perhaps have seen the low point now. And there seems to be some signs of improvement on the market as well.
Pekka Lundmark: And then, of course, to be added, maybe it’s obvious, but of course, in Cloud and Network Services business, we are again expecting a seasonally big quarter in Q4. And then in the forecast there is, of course, for the Technologies business, the assumption that we closed the ongoing negotiations with Oppo and Vivo. On India, maybe one comment. Our India business last year was €1.3 billion and now we have year-to-date €2.5 billion. There was a big sequential drop in Q3 compared to Q2. So now we are getting to levels which would be closer to what we said earlier that, in a way, the new normal run rate when we then look into ’24 and ’25 would be somewhere between the €1.3 billion in 2022 and wherever we will end this year. So this is something that is important to keep in mind in terms of India. So there was already a big sequential drop between Q2 and Q3.
David Mulholland: Thank you, Andrew. We’ll take our next question from Sandeep Deshpande from JPMorgan. Sandeep, please go ahead.
Sandeep Deshpande: Hi, thanks for letting me on. I’m trying to understand actually now going into 2024, clearly, you are adjusting your cost base as well. But on the top line, I mean, if the US doesn’t show signs of significant recovery and India as Pekka just mentioned, is going to be between ’22 and ’23. So it’s going to be down from ’23. And then unless something else is going to kick in on a full year basis, Nokia could see quite a big drop in revenues as such really. So I mean, maybe you can help us understand how you are thinking of that. Clearly, you’re not giving any guidance on how you’re thinking of ’24 at this point, as such really? And I have a quick follow-up after that on the cost.
Pekka Lundmark: Hey, Sandeep, as you understand, it is too early to provide a full view on ’24. However, the macroeconomic environment clearly remains the key factor as we head into next year. We do not know where the market will take us in ’24. I mentioned some early positive signs, especially in the Network Infrastructure business that could start providing support in 2024. But the reality is that there are so many macro uncertainties out there that we simply should not assume that we get a lot of support from the market next year. And that is why we are now taking decisive actions on cost. So we believe that this is a win-win. If then there is a fast recovery on the market, and we have taken cost actions than it’s even better. But we want to be in a position to get to that 14% comparable operating margin by 2026, also in a scenario where there would not be a fast significant market recovery. That is the point here.
