Business ChallengesLimited near-term catalysts are available to reinvigorate the mobile business, and there is limited visibility into the timing of a general enterprise & automotive recovery.
Financial PerformanceGross margins decreased slightly in the recent quarter, although a small improvement is expected in the upcoming quarter.
Revenue GuidanceLooking forward, Synaptics guided Core IoT to represent ~31% of revenue in the December quarter, implying an ~10% sequential drop in revenue, worse than prior expectations.