Diodes Incorporated

So I would say all in all, that's actually combined everything. It is a very, very big ecosystem that's extending beyond what we're actually seeing at this moment.

And satellite, low-throat satellites, anything there?

Oh, for the satellite, yeah. I think we are definitely engaging with a lot of customers working in this area. We probably can share a little bit more in the future. I'll end it there. Thanks so much.

Thank you. Again, if you have a question, please press star then 1. The next question is from David Williams with Needham & Company. Please go ahead.

Hey, good afternoon, everyone. Thanks for taking my question, and congrats on the continued progress here. Thank you. Thank you. Thank you, David. Maybe first on the pricing trends, it looks like there was a little bit of pricing pressure in the first quarter, and maybe that's more mixed than market dynamics. But can you talk about maybe what you're seeing in terms of pricing? Are you seeing the typical type of erosion trends, or are we in a tight enough environment here that you can start to see that maybe flip around and get some pricing power?

Hi, David. This is Emily. You are absolutely right. The Q1, what we see in pricing really, really stabilized, and it's mainly driven by the product mix change. And typically, during the constrained supply situation, you actually see the price more stabilized or maybe upward trend, right? So definitely, we are seeing that in the overall market across all different end market segments.

Okay, great. And then maybe just secondly, you mentioned Europe, I think, multiple times in the script, probably more than we've heard you talk about in the past. I feel like it's coming off the bottom here. But as you look out across your markets and where things are improving, do you sense that any of the strength is coming from replenishment, or do you feel like it's real in-demand that's coming through, and this is the inflection that we've kind of been hoping for here?

This is the real demand. If you really refer back to our POS, point of sales, in distribution, we actually decrease the channel inventory. both in terms of dollars as well as weeks. Usually, Q1 is a slower quarter for us. Seasonality-wise, usually about 5%, 6% down. We actually achieved 3.5% up, and this is also reflecting from the POS result as well. It's increased quarter over quarter, right? So what we're seeing is definitely demand is real. We haven't really had the opportunity or seen a restocking behavior going on, both in distribution or our customer base at this moment.

Great. Thanks so much, and best of luck on the quarter.

Thank you.

This concludes our question and answer session. I would like to turn the conference back over to Gary Yu for any closing remarks.

Thank you everyone for participating on today's call. We look forward to reporting our continued progress on next quarter's conference call. Operator, you may now disconnect.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.