As the market begins to show signs of stabilization, our vision for succeeding with the turnaround is simple: Offer not only outstanding products, but also the best possible customer experience. This may seem straightforward, but it takes a lot of work, in a lot of areas, to pull it off.

The semiconductor companies that are going to win in today's challenging global business environment will have to build a highly flexible, adaptive and responsive supply chain, just as we at Agere have done. We adjust our factory loadings daily to be responsive to changes in our customers' demand. We validate our product designs in real-world environments. We make sure our engineers have all of the resources needed for the best signal integrity analysis and for IC/package co-design. In other words, we do our best to listen to every word our customers say, and to respond immediately with engineering resources and answers.

It is extremely important to us to deliver ICs based on when the customer wants them, not on when we can do it. To that end, we have put a lot of effort into building a fast and efficient supply chain. This lessens exposure to inventory pileups, reducing risk for both our customers and for us, critical in today's environment. A short supply chain lets us be more responsive while keeping costs and inventories low.

We are building strong relationships with foundries to deliver leading technology to our customers when they need it. As the same time, we are maintaining our world-class assembly and test capabilities. Our back-end facilities in Singapore and Thailand can take bare dice and put them into state-of-the-art flip-chip packages in two days. This enables us to respond to changes in customer demand only days before the customer takes delivery. By analyzing historical variations in customer demand, our proprietary statistical models can plan inventory buffers at critical manufacturing steps. This ensures we have the right parts in the supply chain to deliver promptly even in an uncertain world.

We firmly believe the companies that will win as the market recovers will be the ones that can deliver the best total customer experience. That's what we are focused on at Agere-from the moment we engage with OEMs during system architecture planning to the day we deliver engineering samples, all the way through to the day we celebrate a millionth product delivery, and beyond.