Operator: And our next question comes from the line of Richard Schafer with Oppenheimer. Please proceed with your question.
Unidentified Analyst: Hi. This is on the line for Rick. Thanks for letting me ask a question. So, in regards to your agreement to license to LoRa Cloud to AWS, I was wondering how this affects your end node forecast and the long-term 40% CAGR, is this already embedded in €“ can we see in the accelerated growth in your 40% CAGR? Thanks.
Mohan Maheswaran: Well, it’s kind of embedded in the 40% CAGR, I think because it drives a lot of end use connectivity. The whole goal here is to use AWS’ channel and market power and presence to go out and drive more end node connectivity and more assets that need to be tracked and managed and we feel pretty good about the combined company’s efforts here and the thinking here and the platform, but certainly, that’s the expectation. Obviously, it will drive in addition to lower edge end devices, it would drive cloud services revenues for us and that’s significant.
Unidentified Analyst: Great. Thank you. My second question is on Laura Spectrum. Is there any way you can help parse out how big LoRa is for the unlicensed sub gigahertz spectrum? And how does this compare to the 2.4 gigahertz variety? Thanks.
Mohan Maheswaran: Majority of the revenues are sub gig. The 2.4 gig is relatively new. So, I would say, yes, 90% and above is probably sub gigahertz at the moment, yes.
Unidentified Analyst: Thank you.
Operator: And our next question comes from the line of Harsh Kumar with Piper Sandler. Please proceed with your question.
Harsh Kumar: Yeah. Hey, Mohan and Emeka, I’ve got a couple. Mohan, I’m looking at your commentary. You talked about, both you and Emeka talked about signs of demand stabilization, but when I sort of square that against your commentary, I kind of concur that both industrial and infrastructure are down. So, my question is, if you’re seeing signs of stabilization, where are you seeing them? And do you think this is happening because of some of the new products that you guys are launching like TriEdge getting some traction and CopperEdge getting some traction, or are you seeing sort of broadband or sort of broad based, sort of pickup in demand which suggests that maybe you’re on your way up from here?
Mohan Maheswaran: Yes. I think obviously, Harsh, we guided down for Q4 and any bookings, POS demand stabilization is really going to impact the first half of next year, right. So, as we start to look at it, I would say that the stabilization is more on the existing business, the existing business in China, looks like it’s going to recover in the €“ starting to recover in the first half. The existing consumer business, which has been down most of the good part of the year. Looks like it’s starting to bottom out here. So, hopefully Q1, maybe Q2 will start to see pick up there. Now, you add on top of that some of the new growth engines and design wins I talk about with starting to feel pretty good about certainly the second half of next year from a growth standpoint. But to answer your question, the comment on the stabilization is more on the existing revenues today.
Harsh Kumar: Understood. And then you talked about a couple of growth rates for LoRa. So, I just want to understand, you talked about Mohan, I think you said all-in all-out, you ended up with about a 39% growth rate to LoRa for this year, which I think is pretty respectable given your to China and what’s really happening in China? And then you talked about a number ex-China of 60% that I didn’t catch. Maybe you could clarify that. And then how are you thinking about €“ the real question is how are you thinking for growth for next year?
