Total GaAs device revenue (merchant and captive, but excluding foundry revenue) continues its upward climb, closing 2016 up 0.9%. While the increase in revenue was small, this represents the 13th year of growth in the GaAs device industry. Wireless applications, expecially cellular terminals, continue to be the dominant segment and the driving force for the entire GaAs market. Since the last forecast, operators have started deploying gigabit LTE cellular terminals. We believe the added complexity of these terminals will offset slowing smartphone growth and price erosion, resulting in additonal revenue growth in the GaAs device market. We also anticipate emerging 5G applications will add to this growth at the end of the forecast period, when GaAs device revenue will be slightly more than $9.2 billion.