NXP Semiconductors NV at Morgan Stanley Technology, Media & Telecom Conference Transcript
Good. All right. Thank you, everybody. Welcome back. I'm Joe Moore, Morgan Stanley Research. Very happy to have with us today, Jeff Palmer, our Director of Investor Relations for NXP. So Jeff, I think maybe if you could just start off with a little bit of an overview of the company's priorities in the year ahead. And then we'll go into direct Q&A.
Yes. I think this is a little low, I assume. I think for the year ahead, the way we're looking at is how we navigate what clearly looks like a troughing of our end markets in a very controlled manner. Over the last couple of years, we've managed our distribution channel very, very tightly, very cautiously. And over the last couple of quarters, we started to see a little bit of maybe excess inventory at some of the Tier 1s in automotive, and so we want to navigate through that and really navigate a soft landing into the first half.
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