NXP Semiconductors NV at Bank of America Merrill Lynch Global Technology Conference Transcript
Good afternoon, everyone. Thank you for joining us. I'm Vivek Arya. I cover semiconductors and semicon equipment at BofA Merrill Lynch. I'm absolutely delighted and honored to have Rick Clemmer, Chief Executive Officer of NXP Semiconductors; and Jeff Palmer, Head of Investor Relations, join us this afternoon.
What we'll do is maybe, Rick, start with some high level, right, then get into the nitty-gritty of NXP. I'm sure we'll get into cycle in China, Huawei, quite a lot of exciting things to discuss. But maybe just to kind of level set everyone, Rick, give us a sort of state of the union, where are things now versus what you thought, say, 3 or 6 months ago when the year started.
So I think versus 6 months ago, we're still in this period of uneasiness relative to the trade frictions. We would tell you that the market we see in China is still quite frozen. Customers are not willing to place orders or take inventory with
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