Both our short the long-haul business are performing according to expectations, and we continue to be pleased with our execution. We are now then the clear #1 in the long-haul market, having been in that position for the second quarter in a row. According to our recent reports, based on Q1 figures, Ceragon had 26% market share in long-haul, up from 20% in Q4.

During Q2, we saw continued strength in Africa and even more growth in Latin America, reflecting growing demand for our solutions and the result of our Q1 customer wins in both region. This was combined with a very large order from an operator in India via long time OEM customer of ours. This more than offset continued weaknesses in Europe and North America.

As we look ahead, like everyone else, we see an overall environment that is quite challenging with pockets of strength in some specific opportunities. Taking this into account, the latest industry forecast indicate that the entire microwave backhaul market is likely to grow only a little next year. The 3% to 4% of growth is about half the previous growth forecast for the industry. If this is the case, and we continue to execute as we have been, we will continue to outperform the industry.

As we have noted before, wireless operators continue to struggle with how to meet the capacity challenges told by exploding data demand at a reasonable cost, both CapEx and OpEx, by conserving precious spectrum assets. Operators are under tremendous profitability pressure as data demand exceed that of voice. In this environment, combined with the overall macroeconomic concerns, most network upgrades in the developed economies are happening more slowly than once expected. As operators experiment with different subscriber data plans, the value-add network sharing agreements, check new network architectures and test next generation technologies such as LTE advanced.

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