Due to the various major events that affected the global economy and politics, the overall demand for consumer electronics made a sharp downward turn in 2022, and global shipments of notebook (laptop) computers began to fall over the quarters. TrendForce's latest analysis finds that global shipments of notebook computers (from ODMs) reached just around 186 million units for 2022, showing a YoY drop of 24.5%. As for 2023, the outlook on the performance of the notebook computer market remains uncertain at this moment. TrendForce expects the YoY decline to moderate to about 7.8%, but shipments are projected to total only 171 million units.

Because market demand was anemic in 4Q22, promotional activities related to the traditional year-end peak season did not generate a lot of sales momentum. Looking at regional markets, notebook brands (PC OEMs) slashed prices in the US and China, but their sales results still did not meet expectations. This development was mainly attributed to factors such as high inflation suppressing consumers' disposable income. Since the sales results for 4Q22 were lackluster, efforts to get rid of the existing stockpile of whole devices might continue through 2Q23. Furthermore, order placements from channels are going to be much more restrained.

Powercast Corporation, the leader in radio-frequency (RF)-based over-the-air wireless power technology, has unveiled its Ubiquity transmitter, an ultra-low-cost RF power transmitter which was selected as a CES 2023 Innovation Award Honoree in three categories: Smart Home, Embedded Technologies and Sustainability, Eco-Design & Smart Energy.

Designed to be the industry's most economical RF wireless transmitter, Powercast has lowered the barrier to entry where RF wireless power can actually become ubiquitous with multiple RF transmitters covering every home. Ubiquity will be on display in Powercast's booth #52311 at the Venetian Expo in the Smart Home Marketplace during CES 2023 in Las Vegas, January 5 - 8, 2023.

MSI is announcing the launch of our new Gen4 PCIe NVMe models to its SSD category - SPATIUM M461, M452 & M453 in M.2 2280 form factors that can be easily installed into compatible desktop motherboards and laptops. These new products allow MSI to continue to refine its identity as a high-performance PC brand and grow its product ecosystem by expanding SPATIUM, our high-performance storage category. Our SSDs are built with high-quality, high-density 3D NAND flash that delivers astonishing performance and endurance for professionals, content creators, and gamers.

SPATIUM M461, The Competitive PCIe 4.0 SSD for Mainstream Segment.
SPATIUM M461 was developed to meet the expectations of mainstream SSD consumers. Blazing fast speeds up to 5000 MB/sec sequential read and 4200 MB/sec sequential write speeds allow users using the latest generation of PCs to enjoy the capabilities of the PCIe Gen4 interface. Available storage capacities are 500 GB, 1 TB, 2 TB, and 4 TB.

Big things are afoot at Intel's graphics chip division once again, as the company has just broken up its Accelerated Computing Systems and Graphics (AXG) business unit which will result in some big changes. For starters, Raja Koduri has been—what we can only refer to as—demoted, given he's back to being chief architect rather than being in charge of the AXG business unit. Some of his staff will be moved to other business units inside Intel as the AXG business unit will cease to exist. This doesn't mean Intel will stop making discrete consumer GPUs, with at least the Battlemage/Arc B-series launch still being planned to take place sometime in 2023.

At the same time, it looks like Raja Koduri will be out of action for what is likely to be at least a month since he posted on Twitter that he's had emergency back surgery while on a business trip. How this will affect his transition back to his role as chief architect is anyone's guess at this point in time. However, he will not be focusing solely on GPUs in the future, but the broader range of products that Intel offers—particularly the integration of GPU, CPU and AI architectures at Intel. We've posted an official statement from Intel after the break, which Intel provided to Tom's Hardware. We also wish Raja a speedy recovery!

Fortnite maker, Epic Games, has on Monday reached a settlement in court in an investigation by the US Federal Trade Commission (FTC), to pay a total of 520 million US Dollars in fines. This fine is because Epic deployed shady tactics of manipulating children into purchasing Fortnite V-bucks, skins, etc., without proper consent forms and purchase order confirmations. Even with millions of complaints from parents, Epic decided to proceed with its tactics and used dark patterns that deceived the original intent. Thus, the FTC has made a case that this violates the Children's Online Privacy Protection Act (COPPA) rule, and Epic Games will have to pay the fine.

The fine is consists of two separate causes. The $275 million monetary penalty for violating the COPPA Rule—the largest penalty ever obtained for violating an FTC rule, and the $245 million to refund consumers for its dark patterns and billing practices. The refund fine is FTC's most considerable refund amount in a gaming case and its most significant administrative order in history. Epic said, "Over the past few years, we've been making changes to ensure our ecosystem meets the expectations of our players and regulators, which we hope will be a helpful guide for others in our industry. " The official statement is far longer, and you can read about it here.

Global market intelligence firm TrendForce reports that the revenue generation momentum of the global IC design industry slowed down in 3Q22. The main factors behind this development were the Russia-Ukraine military conflict, the recent COVID-19 lockdowns in China, the ongoing inflation, and clients undergoing inventory corrections. The total revenue of the global top 10 IC design houses came to US$37.38 billion for 3Q22, showing a QoQ decline of 5.3%. Qualcomm remained first place in the ranking of the global top 10 IC design houses by revenue for 3Q22. Broadcom returned to second place by overtaking NVIDIA and AMD, who slipped to third and fourth respectively due to weakening demand for PCs and cryptocurrency mining machines.

Regarding US-based IC design houses that were in the top 10 group for 3Q22, Qualcomm recorded a QoQ increase for the sales of smartphone SoCs and 5G modem chips. It also made gains in the automotive electronics market by expanding its collaborations with partners in the automotive industry. As a result, Qualcomm's 3Q22 revenue figures for mobile and automotive offerings reflected QoQ increases of 6.8% and 22.0% respectively. The revenue growth of these two major product categories offset the marginal decline in the revenue for RF front-end chips. Qualcomm's IC design revenue as a whole climbed up by 5.6% QoQ to US$9.90 billion for 3Q22. The company sat firmly at the top of the ranking.

According to the well-known hardware leaker @momomo_us, HP is preparing the launch of its next-generation Omen 17 gaming laptops. And with a new generation of chips coming to consumers, HP accidentally made some information about laptop SKUs public. Four models are listed, and they represent a combination of Intel's 13th-generation Raptor Lake mobile processors with NVIDIA's Ada Lovelace RTX 40 series graphics cards for the mobile/laptop sector. The four SKUs are: CM2007NQ/CM2005NQ with Core i7-13700HX & RTX 4060 8 GB; CM2001NQ with Core i7-13700HX & RTX 4070 8 GB; CK2007NQ/CK2004NQ with Core i7-13700HX & RTX 4080 12 GB; CK2001NQ with Core i7-13700HX & RTX 4090 16 GB.

The most exciting find here is the appearance of the xx90 series in the mobile/laptop form factor, which has not been the case before. The GeForce RTX 4090 laptop edition is supposedly equipped with 16 GB of VRAM, and the GPU SKU should be a cut-down version of AD102 GPU adjusted for power and clock constraints so it can run within a reasonable TDP. With NVIDIA seemingly giving its clients an RTX 4090 SKU option, we have to wait and see what the CUDA core counts are and how clocks scale in a more restricted laptop environment.

According to TrendForce's research, the total revenue of the global top 10 foundries rose by 6% QoQ to US$35.21 billion for 3Q22 as the release of the new iPhone series during the second half of the year generated significant stock-up activities across Apple's supply chain. However, the global economy shows weak performances, and factors such as China's policy on containing COVID-19 outbreaks and high inflation continue to impact consumer confidence. As a result, peak-season demand in the second half of the year has been underwhelming, and inventory consumption is proceeding slower than anticipated. This situation has led to substantial downward corrections to foundry orders as well. For 4Q22, TrendForce forecasts that the total revenue of the global top 10 foundries will register a QoQ decline, thereby terminating the boom of the past two years—when there was an uninterrupted trend of QoQ revenue growth.

Regarding individual foundries' performances in 3Q22, the group of the top five was led by TSMC, followed by Samsung, UMC, GlobalFoundries, and SMIC. Their collective global market share (in revenue terms) came to 89.6%. Most foundries were directly impacted by clients slowing down their stock-up activities or significantly correcting down their orders. Only TSMC was able to make a notable gain due to Apple's strong stock-up demand for the SoCs deployed in this year's new iPhone models. TSMC saw its revenue rise by 11.1% QoQ to US$20.16 billion, and the corresponding market share expanded to 56.1%. The growth was mainly attributed to the ≤7 nm nodes, whose share in the foundry's revenue had kept climbing and reached 54% in the third quarter. Conversely, Samsung actually experienced a slight QoQ drop of 0.1% in foundry revenue even though it had also benefited from the component demand related to the new iPhone series. Partially impacted by the weakening of the Korean won, Samsung's market share fell to 15.5%.

At the World Display Industry Conference in China, BOE showed off a range of upcoming products, ranging from various new TV displays, to a foldable OLED display for notebooks and a 600 Hz display for gaming notebooks. Not much is known about the 600 Hz display, but it's a 16-inch panel and it was shown off inside a notebook from an unknown vendor. BOE showed off a 500 Hz desktop display earlier this, but this is a step up from that. The foldable OLED laptop display measures 17.3-inches and is as such similar to products we've seen from Samsung.

Also on display at the event was a 34-inch Mini-LED gaming display with a 165 Hz refresh rate, a 1 ms response time and it's said to meet the DisplayHDR 1000 standard and should have a contrast ratio of 100,000:1. BOE calls its Mini-LED displays for α-MLED and the company also had an 86-inch TV display based on the same technology at the event. It's unknown if any of these displays will appear in consumer products outside of the Chinese market, although BOE laptop panels have been used in products sold globally.

TrendForce estimates that global shipments of VR devices will come to around 8.58 million units for 2022, showing a YoY drop of 5.3%. There are three notable factors behind the decline. First, the ongoing high inflation has been suppressing the consumer demand for end products this year. Second, VR brands have either opted to not release a new product this year or pushed back the schedule for releasing a new product. Lastly, the demand for Meta's Quest devices has been dampened by a significant pricing adjustment. As for 2023, TrendForce forecasts that global shipments of VR devices will bounce back to a total of 10.35 million units and show a YoY growth of 20.6%. New products including the Sony PS VR2 and the Meta Quest 3 are scheduled for release next year, so they are expected to be a significant demand driver.

Meta has been the most aggressive in committing resources into the VR/AR market. However, the effect of its attempt to offer hardware at a low price has been quite disproportionate to its massive investments in related technologies. Due to mounting cost pressure, Meta has adjusted its pricing strategy for Quest devices. The Meta Quest 2, in particular, is now priced at US$1,499, which is more than three times its previous price. On account of this price hike and its relatively short battery life, the Quest Pro will unlikely follow the footsteps of the Quest 2 with respect to maintaining a strong shipment growth momentum. TrendForce estimates that that shipments of the Quest Pro will reach just to the level of 250,000 units for 2022. Meta will have to wait until next year, when the Quest 3 hit the market, to again see a notable positive growth in its shipments of VR devices. TrendForce currently forecasts that Meta's shipments for 2023 will total around 7.25 million units.

Market intelligence firm TrendForce reports that the whole NAND Flash market was severely weakened by plummeting demand in 3Q22. Because shipments of end products including consumer electronics and servers had been below expectations, the overall NAND ASP fell by 18.3% QoQ. Furthermore, the general economic outlook remained pessimistic, so enterprises across many sectors started to scale back their capital expenditure plans and halted the momentum of their procurement activities. Due to this development, the problem of excess inventory eventually spread to NAND Flash suppliers. The pressure on suppliers to make sales was ratcheted up dramatically. According to TrendForce's investigation, NAND Flash bit shipments fell by 6.7% QoQ for 3Q22, and the overall NAND Flash ASP also kept sliding. On account of the unfavorable market situation, the NAND Flash industry recorded a total revenue of around US$13.71 billion for 3Q22. The QoQ revenue decline reached as much as 24.3%.

The ranking of NAND Flash suppliers by revenue saw two notable changes for 3Q22. First, SK Group moved down to third place as it suffered the largest revenue drop among suppliers. Its revenue slipped by 29.8% QoQ to US$2.54 billion mainly due to the significant deterioration of the demand for PCs and smartphones. Its subsidiary Solidigm was also affected by the slowdown in server procurements. Previously, servers had a fairly stable demand situation compared with other kinds of end products. However, server demand eventually buckled in 3Q22 as result of enterprises cutting capital expenditure and undergoing a period of inventory correction. Compared with 2Q22, SK Group (that encompasses SK hynix and Solidigm) posted a drop of 11.1% in bit shipments and an even steeper decline of more than 20% in ASP.

TP-Link, a leading global provider of consumer and business networking products, today held an epochal WiFi 7 product launch to announce its WiFi 7 networking solution.

As the world's first vendor to release a full home and enterprise WiFi 7 product line, TP-Link launched new WiFi 7 routers, Deco products, Omada EAPs, and Aginet products for ISP markets to cover all usage scenarios. Additionally, TP-Link's new HomeShield 3.0 provides more reliable and smarter network solutions.

According to the latest TrendForce research, shipments of gaming monitors are in decline for the first time since the product category was launched to market, with 2022 estimates lowered to 20.5 million units, a 10% drop YoY. The primary reasons for this downgrade are intensifying inflation in Europe and spiking interest rates in North America which have upset and displaced demand for consumer electronics products. In addition, delays in launching high-end graphics cards has also led some e-sports consumers to consider postponing purchases.

According to TrendForce, judging from the market share of flat and curved gaming monitors, curved gaming surfaces accounted for approximately 41% of the market in 2021. In 2022, this share will increase to 44% and is expected to have a chance to reach 46% in 2023. In addition to an increased supply of curved monitor panels and their high price-performance ratio, growth in the market share of Ultra-Wide products is also one of the reasons for the rise of curved products.

According to TrendForce research, rising inflation has weakened demand for consumer products, flattening the peak of peak season. In 3Q22, memory bit consumption and shipments continued to exhibit quarterly decline. Due to a significant decline in memory demand, terminal buyers also delayed purchases, leading to further escalation of supplier inventory pressure. At the same time, the strategies of various DRAM suppliers to increase their market share remain unchanged. There have been cases of "consolidated Q3/Q4 price negotiations" or "negotiating quantity before pricing" in the market, which are the reasons leading to a ballooning of declining DRAM prices to 13~18% in 4Q22.

In terms of PC DRAM, due to weak demand for notebooks, PC OEMs will remain focused on destocking DRAM inventory. While the DRAM supply side has not actually reduced production since operating profit remains favorable, bit output continues to rise and pressure on suppliers' inventory becomes increasingly obvious. From the perspective of DDR4 and DDR5, the price drop forecast in 4Q22 is 13~18% with DDR5 declining more than DDR4. However, as the penetration rate of DDR5 continues to rise, coupled with a higher unit price, the penetration rate of DDR5 in the PC DRAM sector will increase 13~15% in 4Q22, which will buoy the average unit price of overall PC DRAM (combined DDR5 and DDR4) marginally and PC DRAM pricing in 4Q22 is estimated to drop by approximately 10~15%.

Today, Intel introduces a new processor for the essential product space: Intel Processor. The new offering will replace the Intel Pentium and Intel Celeron branding in the 2023 notebook product stack.

"Whether for work or play, the importance of the PC has only become more apparent as the torrid pace of technological development continues to shape the world. Intel is committed to driving innovation to benefit users, and our entry-level processor families have been crucial for raising the PC standard across all price points. The new Intel Processor branding will simplify our offerings so users can focus on choosing the right processor for their needs." -Josh Newman, Intel vice president and interim general manager of Mobile Client Platforms

According to the latest TrendForce statistics, revenue of the top ten global IC design houses reached US$39.56 billion in 2Q22, growing 32% YoY. Growth was primarily driven by demand for data centers, networking, IoT, and high-end product portfolios. AMD achieved synergy through mergers and acquisitions. In addition to climbing to third place, the company also posted the highest annual revenue growth rate in 2Q22 at 70%.

Qualcomm continues in the No. 1 position worldwide, exhibiting growth in the mobile phone, RF front-end, automotive, and IoT sectors. Sales of mid/low-end mobile phone APs were weak but demand for high-end mobile phone APs was relatively stable. Company revenue reached US$9.38 billion, or 45% growth YoY. NVIDIA benefitted from expanded application of GPUs in data centers to expand this product category's revenue share past the 50% mark to 53.5%, making up for the 13% YoY slump in its game application business, bringing total revenue to US$7.09 billion, though annual growth rate slowed to 21%. AMD reorganized its business after the addition of Xilinx and Pensando. The company's embedded division revenue increased by 2,228% YoY. In addition, its data center department also made a considerable contribution. AMD posted revenue of US$6.55 billion, achieving 70% growth YoY, highest amongst the top ten. Broadcom's sales performance in semiconductor solutions remained solid and demand for cloud services, data centers, and networking is quite strong. The company's purchase order backlog is still increasing with 2Q22 revenue reaching US$6.49 billion, an annual growth rate of 31%.

Omni Remotes (www.omniremotes.com), a global leader in home control solutions, has launched the Model P+, in collaboration with Swedish industrial company Exeger (www.exeger.com). Featuring Exeger's Powerfoyle, this perpetual remote combines premium aesthetics with state-of-the-art solar technology and has the potential to significantly reduce the use and disposal of alkaline batteries.

Built upon 2021's award-winning Model P, the Model P+ uses Powerfoyle's superior indoor light harvesting capabilities, while harnessing Omni's ultra-low power platform. For individuals, this can mean never replacing or recharging the batteries in their remotes. For the pay TV and consumer electronics industries, this would be a vital step towards meeting environmental net-zero targets.

According to the latest TrendForce investigations, moving into the second half of 3Q22, the lack of a peak season has led to a delay in inventory destocking. Transactions in the NAND Flash market have been frosty. Buyers are watching passively and tend not to negotiate pricing. Pressure on factory inventory has reached a breaking point and manufacturers are bottoming out pricing in order to make a deal. This move will lead to a further decline in manufacturer pricing. TrendForce once again revises downward 3Q22 NAND Flash wafer contract prices and the decline of pricing is estimated to balloon to 30-35% from the original estimate of 15-20%.

In the past two years, the pandemic has promoted digital transformation and notebook computers and servers have stimulated rapid growth in NAND Flash consumption. In order to satisfy demand, manufacturers have been expanding aggressively, with their processes accelerating the output of 128-layer+ products. However, the 2H22 NAND Flash market situation has deteriorated sharply with the acute correction in purchase order demand for smartphones and laptops indicative of a market oversupply. Looking forward to 2023, the conservative attitudes of various consumer electronics brands may lead to difficulties in improving market conditions in the next year and stimulate suppliers to step up efforts to seize market share.

Tumultuous times are ahead for the PC and tablet markets according to a new forecast from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. Global shipments of traditional PCs are forecast to decline 12.8% in 2022 to 305.3 million units while tablet shipments will fall 6.8% to 156.8 million. Inflation, a weakening global economy, and the surge in buying over the past two years are the leading causes for the reduced outlook.

Further contraction is also expected in 2023 as consumer demand has slowed, the education demand has been largely fulfilled, and enterprise demand gets pushed out due to worsening macroeconomic conditions. The combined market for PCs and tablets is forecast to decline 2.6% in 2023 before returning to growth in 2024.

Under the directions of the US Consumer Products Safety Commission (CPSC), the regulatory body overseeing consumer-safety for the US and Canada, ASUS has instituted a general recall of its Republic of Gamers (ROG) Maximus Z690 Hero Socket LGA1700 motherboard. This includes pulling the product from the market, as well as reaching out to current owners, informing them of a design flaw with the product that affects their safety, and offering replacements.

The general recall has its roots in a December 2021 announcement by ASUS that a batch of the motherboard is being voluntarily recalled by the company after it discovered that a capacitor that's part of the motherboard's VRM has been defectively installed in the opposite electrical polarity. This has the potential to cause a fire.

EAR Micro and Klipsch Audio proudly announce the launch of T10 Bespoke Ear Computers at the Motorlux Event, Monterey Jet Center, August 18-19, 2022, to coincide with the 71st Concours D'Elegance.

T10 Bespoke represents an entirely new category of advanced hearables technology—tiny in-ear computers about a third of the size of traditional wireless earphones, yet significantly more advanced. T10 Bespoke Ear Computers seamlessly blend high-style luxury materials and hand craftsmanship typical of fine jewelry and watchmaking with state-of-the-art wireless hi-fi audio. The audio signal path boasts a stunning 96kHz/24-bit audio resolution rendered through the LDAC codec, further enhanced by twin Cadence/Tensilica Hi-fi DSP's, passed next through ultra-efficient class-D amplifiers, and finally into your ears through acoustically accurate Sonion precision balanced-armature transducers.

According to news out of South Korea, LG Display is readying a 20-inch OLED display which should become available to its partners by the end of the year. It's intended for "personal devices" but seems to be too big for a tablet or a laptop display. Admittedly the Elec who broke the story, didn't mention which aspect ratio the panel would have, but even at 16:9 or 16:10, this seems like something intended for desktop applications or a luggable gaming notebooks.

However, LG is apparently working on a range of new OLED display panels, of which some will be bendable so the user can choose to have a flat or a curved monitor. LG has already seen a decent update of its OLED products when it comes to gaming displays, although presumably most of these are TVs. According to the Elec, LG said that most consumers prefer a curvature of between 800 to 1000R when gaming, although no source for this information was provided. According to LG, only its single glass substrate white OLED panels could be used for bendable LED monitors, as Samsung's QD OLED panels use two glass substrates, which apparently makes them impossible to bend/flex to this degree.

According to TrendForce investigations into the DRAM market, under pressure from ever-increasing output, Korean manufacturers have significantly increased their willingness to compromise on pricing in order to stimulate buying from distributors and customers, leading to a steady expansion of falling prices. In addition to Korean manufacturers enthusiastically slashing prices, low-priced chips from the spot market are also circulating in the market. Other suppliers have no choice but to follow suit and fervently reduce pricing for sales, rapidly exacerbating the 3Q consumer DRAM price drop from the original estimate of 8~13% to a quarterly decline of 13-18%.

Looking forward to Q4, it will be difficult for stocking momentum to recover before terminal inventories have been completely depleted. TrendForce expects the price of consumer DRAM to continue to fall until oversupply in the market is alleviated. Thus, consumer DRAM pricing will carry on moving lower by another 3~8% in Q4 and the possibility of sustained decline cannot be ruled out.

Intel has today unveiled another addition to its discrete Arc Alchemist graphics card lineup, with a slight preference to the professional consumer market. Intel has prepared three models for creators and entry pro-vis solutions, called Intel Arc Pro graphics cards. All GPUs are AV1 accelerated, have ray tracing support, and are designed to handle AI acceleration inside applications like Adobe Premiere Pro. At the start, we have a small A30M mobile GPU aimed at laptop designs. It has a 3.5 TeraFLOP FP32 capability inside a configurable 35-50 Watt TDP envelope, has eight ray tracing cores, and 4 GB of GDDR6 memory. Its display output connectors depend on OEM's laptop design.

Next, we have the Arc A40 Pro discrete single-slot GPU. Having 3.5 TeraFLOPs of FP32 single-precision performance, it has eight ray tracing cores and 6 GB of GDDR6 memory. The listed maximum TDP for this model is 50 Watts. It has four mini-DP ports for video output, and it can drive two monitors at 8K 60 Hz, one at 5K 240 Hz, two at 5K 120 Hz, or four at 4K 60 Hz refresh rate. Its bigger brother, the Arc A50 Pro, is a dual-slot design with 4.8 TeraFLOPs of single-precision FP32 computing, has eight ray tracing cores, and 6 GB of GDDR6 memory as well. It has the same video output capability as the Arc A40 Pro, with a beefier cooling setup to handle the 75 Watt TDP. All software developed using the OneAPI toolkit can be accelerated using these GPUs. Intel is working with the industry to adapt professional software for Arc Pro graphics.

Corsair Gaming, Inc. ("Corsair" or the "Company"), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced financial results for the quarter ended June 30, 2022. Andy Paul, Chief Executive Officer of Corsair, stated, "Headwinds from Q1 persisted through Q2, which is seasonally the lowest quarter for us, with macro-economic headwinds affecting consumer spending on gaming gear, especially in Europe combined with global inflation, the continued Russia and Ukraine conflict, and high freight costs. This resulted in a buildup of inventory both in our warehouses as well as in the retail channel, thus causing our channel partners to delay ordering while they clear this stock.

Despite the challenging environment, we continue to see positive underlying growth trends in the gaming hardware sector, and we see spending levels significantly above pre -pandemic levels. We are also starting to see more enthusiasts building gaming PCs again as graphics cards are now more readily available at reasonable prices. We saw very positive signs during Amazon Prime week, with component activity significantly higher than in 2021, both in Europe as well as in the United States. While we are disappointed with the lower results in Q2, we are very pleased to see positive market activity recently and with our channel inventory moving back into line during Q2 and Q3 2022, we expect demand for our products to recover well as we finish the year and look forward to an exciting 2023."