These products are now beginning to, this industry of cards is beginning to mature, gross rates are moderated, but still growing at a modest rate for the balance of year and we believe will also be the case next year with a rise of low cost smartphones from China and other markets with very little embedded memory with and so therefore high bundle rates.Simultaneously, we’ve already seen, we’ve already expected the moderating rates for smartphones and so, over last few years have invested aggressively to -- on products to drive our long-term growth and these are our new growth products, specifically our LTE transceivers, as well as our SoC plus embedded controllers. Our LTE transceivers have already started the ramping. We’ve had -- we start ramping over a year ago, last year was our first year which we had one full year of LTE revenue, last year LTE transceivers already accounted for over 10% of our corporate revenue. We had $224 million of revenue last year and LTE already accounted for little over 10%. LTE will continue to grow this year. We expect our LTE revenue to grow somewhere in the 50% to 75% range for this year. So it will be an important driver for our new growth products this year as well as next year. In addition to ramp up our LTE transceiver business, we have also been rolling out our SoC plus embedded controllers. The first out of gate is our eMMC controllers. Our eMMC controllers went into production late last year. In Q1 of this year we went into production with one of the major NAND flash vendors and went into production with the second NAND flash vendor in second quarter of this year. So already we have Samsung and Hynix as our two NAND flash partners for eMMC controllers. Samsung and Hynix are using our eMMC controllers for memory -- for these eMMC memory modules that they have marketed to a large number of smartphone and [handset] OEM.
Already we have 11 OEMs that are using our controllers for their products and these include HTC, Lenovo, ZTE and Huawei among others. We already also design into a number of high profile tablets that are going to be rolling out in second half of this year.So we are delighted where our business is going and we delighted that our new growth products are taking up the mental that use to be occupied by our card controller as the leading driver of growth to our business. Our new growth products were 15% of our revenue last year. This year we expect our new growth products to be 30%, 35% of our revenue and to grow further next year. So we are excited where all these new growth products are coming together to develop, to drive our growth, current growth, as well as expectation that these products will further drive our growth for the longer term. And this is especially important as our core product, our card and USB flash drive products the growth of these begin to moderate. So, I think, what I’ll do is turn to for Q&A with Bob. Question-and-Answer Session Bob Gujavarty - Deutsche Bank Great. Thank you [actually]. Yeah. I think maybe just perhaps, well, tactical given there is a lot of macro uncertainty. I think when particularly interesting point was, you guided 3Q to be in a pretty tight range, just for, historically you’ve kind of given at 10 point range but guided 3Q revenue 5% to 8% Q-on-Q, pretty tight range. Can you talk little bit about your confidence around such a tight range, what’s kind of driving that versus kind of your previous guidance ranges? Riyadh Lai Sure. Sure. Increasingly we have better visibility of our business especially with the OEMs that are driving both our core products, as well as our new growth products. And through these OEMs we have better visibility of our business. OEMs like Samsung for our card business, as well as Samsung for our LTE transceiver business. Read the rest of this transcript for free on seekingalpha.com