Skyworks Solutions, Inc. (NASDAQ:SWKS) Q4 2023 Earnings Call Transcript

And I think we are, as Liam said, we’re seeing light at the end of the tunnel. We are nearing towards completion of the inventory correction. We have the design wins with those customers. We are ready to go. And I think you will continue to see that in the next couple quarters. It’s going to be a gradual process. I personally don’t believe in a snapback. It’s a gradual process. And we’re there, we’re well positioned, and you will see us there.

Blake Friedman: Got it. And then just following up as well, just kind of domestic competition within China. I guess maybe if you can walk us through how you’ve seen the developments there over the past two to three years, and maybe moving forward what you think domestic competition will be like, I guess two to three years from now.

Liam Griffin: Yes, certainly we have the technology to handle the broader markets there and the mobile markets in China. Ultimately, we think that there’s an upside opportunity there and the gap is widening from a technology perspective. So you think about kind of the have and have nots there. There’s a segment in China that really is lower end. It’s great for some consumers, but it hasn’t been a driver force. But if you go back to the VOX ecosystem, a lot of opportunity for us to continue to drive that. We haven’t been as aggressive as we should be there and we will take a look at that again. But also just throughout the other markets as well that we talked about, there’s a lot of energy around mobility. There’s a lot of energy around IoT.

Some of the markets we talked about before, of course, automotive are great, but the aperture continues to widen. And what happens with us is when we penetrate a segment, we go in hard. And this is where the balance sheet, the tenacity of the team, the scale of our operations, where a lot of our stuff is done in-house, makes us very unique. And it’s an opportunity for us to continue to demonstrate the growth curve as well.

Operator: Ladies and gentlemen, that concludes today’s question and answer session. I’ll now turn the call back over to Mr. Griffin for any closing remarks.

Liam Griffin: Thank you all for participating on today’s call. We look forward to talking to you in upcoming investor conferences during the quarter. Thanks again.

Operator: Ladies and gentlemen, this concludes today’s conference call. We thank you for your participation. You may now disconnect.