Doug Freedman (American Technology Research): On the mobile space, can you talk a little bit about what you are seeing from a design-in perspective as far as how many phones you are seeing internal slots versus external slots and what you are seeing there as far as the add-in market for the phone market?

Sanjay Mehrotra: In terms of the handset market and new design-ins, clearly the slot is the dominant part of the business so far and will continue to be the dominant part of the mobile business. Of course, it is an increased trend, especially following on the heels of the Apple iPhone that is providing some increase in the handset models with embedded Flash. During 2008, we do expect some increased number of models of phones with embedded Flash but by and large, the card slots will continue to dominate. On the embedded side, we have strong product offering and good design penetration with our iNAND lineup of product.

Daniel Amir (Lazard Capital Markets): Do you have any clear plan on your 200-millimeter fabs? Do you believe that you will be outgrowing the bit growth of the industry here in 2008?

Dr. Eli Harari: Toshiba and SanDisk decided not to push 200-millimeter beyond 70-nanometer MLC and that was a good decision, so all of our investments have been in 300-millimeters for the last three years. There’s very little 200-millimeter capacity that we have. We will, during 2008, use the remaining 200-millimeter capacity on 70-nanometer for very low density parts. We have some requirements for that, particularly for multi-chip packages but other than that, it’s not a big factor.

Bob Gujavarty (Deutsche Bank): You mentioned international is doing better than North America. Can you talk a little bit about different trends?

Dr. Eli Harari: International has one thing, a much more advanced market for handsets than the United States, particularly multimedia handsets. If you go in London or Paris, you see very many phone wearers use it as their MP3 player. Now, in addition to that, Europe is booming in many countries. We hear always about England and France but Russia is booming, Poland is booming, Scandinavia a big part of that, and of course the Middle East, at least the Middle East that’s producing oil, not counting some of the trouble areas. We see very strong demand for our products and it’s a question of having enough people, enough distribution, enough sales people to grow and nurture that demand. Japan, we have really broke through in 2007. We’ve gone from about 10% market share in Japan to close to 30%. That’s a very competitive market and we’ve had to take share from Matsushita, Panasonic, Sony, highly entrenched suppliers. I think that we are on a real roll in Japan. Asia-Pac is very price competitive and there it’s a question of market share versus margin. We have the ability now to move product around the world to areas where we can maximize our impact and our gross margin contribution.