 Thank you very much for attending this presentation. The target of this presentation is the SD solution for GNSS application, mainly targeting the telematics market. The telematics market is a very growing market for both automotive, industrial and consumer applications. Telematics is an application that is not requested on maps. Then, position accuracy is a very key factor for any telematics application. You have the accuracy requested on all the different telematics application solutions, starting from insurance, anti-tep, diagnostic, emergency call, or public transportation, good tracking. In any of these applications, since the maps are not available, the position accuracy is very, very important. SD knows very well how to achieve a better accuracy without a map matching solution. We know that the higher is the number of the satellite, better is the accuracy level. For that reason, SD, pioneer in the market, introduced in 2011 the first multi-chip solution. With this multi-chip solution, we are able to perform field tests confirming the quality in terms of accuracy of the multi-costalation. You can see in your left side the London test when the blue track is GPS only and the green one is GPS plus GLONASS. You can see on the top picture the significant benefit of the multi-costalation in terms of a position accuracy. The same things can be done on the right side combining GPS plus Baidu. This was done in China. Baidu is the new post-relation from China. And the improvement in position accuracy is very, very impressive. SD launched the first GNSS solution in the market in 2011. The nickname of the chip is the Teseo2. Teseo2 is now in the market since more than four years and in the reference for the multi-costalation. We have sold millions of parts. This device is able to handle simultaneously the GPS satellite system from the US. The GLONASS satellite system signal from Russia. The Galileo satellite system from Europe. And the Japanese augmented solution called QZSS. The chip is able to handle in parallel all of this satellite system improving significantly the accuracy performance of the car. On top of that, the Teseo2 was the first consumer, let me say the commercial chip used by the ESA, the European Space Agency to perform the first pure Galileo fix. It means in 2013 the European Space Agency did the first fix Galileo only and together with the professional equipment they selected Teseo2 as a commercial product to perform that. Confirming the quality of our SD hardware and software solution too. In this area we are continuing to support the activity of the European Space Agency confirming the capability of our chip to support the emergency call, the new E-call application that will be mandatory in Europe starting from 2017. Currently Teseo2 is under testing and all the tests confirm the capability of the chip to withstand the E-call application requirement. In 2014, last year, when the satellite codes were available, they still launched in the market a new chip solution, a new product family called Teseo3, able to support Baidu chip, Baidu Chinese constellation. Then Teseo3 now is able to end all the available constellation simultaneously in the markets, the GPS from US, GLONASS from Russia, Galileo from Europe, Baidu from China and QZ tests from Japan. Confirming the quality and the innovation of our solution. I show you just a simple test that it's very easy to do but it's also important to quantify the level of our ST software. This is a test done in open sky in China, combining with the roof antenna in a static condition. You can see the red points here are fixed down with the GPS only. The blue one is GPS plus Baidu. As you can see, the cluster of GPS plus Baidu solution is, let me say, is smaller than the GPS one. This is a confirmation that even in open sky condition, even in a very good visibility of GPS satellite, the combination of the GPS satellite signal plus the Baidu is done in a perfect synchronism, offering an improvement of position accuracy even in open sky. This static result is confirmed, of course, in dynamic tests, where we can achieve a very important improvement in terms of position accuracy. As you can observe in this part, the blue one is the GPS plus Baidu solution and the green one is just the GPS only. You can see the shadow of the big tall building that can obscurate this part. You have the shadow that can create reflection and, let me say, causing the degradation of the GPS only solution. With the GPS combining GPS plus Baidu, you can achieve an accuracy level significantly. This is a value from telematics. This is a contribution to the innovation in this market. We got, let me say, an official confirmation of the innovation level of ST solution from the most important magazine on GPS world. This is the GPS world. GPS world last year selected the SO3 as the most innovative product in the market because its ability of handling different constellations because the ability of the SO3 algorithm to well match, to well synchronize the different satellite signals. The SO is not only a multi-constellation product. It's even a platform that offers an innovative approach in the market. It's for sure the best in class in terms of accuracy because the perfect combination of the different satellite system but it's also the only GNSS solution offered in open platform. It means we can offer part of the R9 of the micro, the core that is part of the chip for hosting the customer application. Then you can have in a single chip solution, the best in class GNSS solution in terms of accuracy, hosting also the customer firmware. We offer you power processing. We offer you flash 1 megabyte of flash. We offer you something close to 100K SRAM available for hosting your customer firmware. On top of that ST, together with the GNSS library, we offer to our customer an assisted GNSS library and the dead-recording library too. Let me show as a snapshot what is the main benefit of the TCO-3. Verso the TCO-2, I told you is now the reference for multi-constellation in the market, GPS plus GLONASS. The TCO-3 brings the Baidu on top and we have improved the power efficiency of the chip reaching with the new innovative power management units. We are able to reach a very outstanding stand-by current that is an important feature in all trading applications. With TCO-3, it is able to reach an unbelievable number that is below the micro-ramp. Based in class on that, we minimize, optimizing the bomb, we have the minimum bomb for supporting the TCO-3 implementation and we continue to keep the rich set of peripherals at the different, let me say, package solution, different offer. TCO-3 is not just one chip. TCO-3 is a product family with different sun for addressing different applications because we can have different firmware, we can have different peripherals. It's a complete family for addressing and suitable for a different market application. We have reported just shortly what is the block diagram of the more powerful TCO-3 chip. In this case, you can see a list of the new Genesis engine, the ARM core that can be also available for hosting your firmware, the customer firmware, and the set of peripherals and the interface too. This is, let me say, a snapshot of the more powerful product, part number of the very wide TCO-3 product family. And as I told you, WST is the only company in that field that we can offer to our customer the three different approaches. The first one is the approach that can allow you to port the customer firmware on the TCO-2. We call it SDK because together with the Genesis library, together with the sister Genesis library, together with the Gregory library, we offer to our customer a software development kit for porting your own software on top of the TCO-3 solution. In the middle, you find what we call the binary. The standard one means that one of the TCO-3 solutions is just optimized for autonomous solutions, offering as output to the enemy data that can be handled by the main host of the application, the main application processor. The last one on your right side is the trigger version. In case of optimized solution and bomb, we can offer you as a part of the product portfolio just the trigger version of giving you the library running, the position library running on the main processor of your application. Just a short reporting, the more complex solution that can be addressed with the TCO-3. The TCO-3 embed also a CAN interface, two CAN interface, and EMI, external memory interface, in case in the SDK approach, in the approach that hosting the customer firmware is requested, the higher quantity of external memory, both SRAM and flash. With this chip, with the TCO-3 path number, EX, you can access to the CAN interface, I2C or SPI for interfacing the sensor and the EMI in case additional memory set is requested. I, as anticipated to you, together with the GNSS library, we offer to our customer the ASSISTED GNSS library. And unique in the market, ST decided to have a partner for the server-based ASSISTED GPS. We do not have our own server, but we can and we offer the service of the best-in-class ASSISTED GPS company in the market. This is the Erics Network, a Canadian company where they're strictly linked with the NASA, with the US agency space. In this cooperation, this was done to offer the best-in-class ASSISTED GPS solution with the more reliable server for ASSISTED GPS data in the market. Even in that direction, ST took the decision to select the best solution in the market instead of having our own server as our competitor do. We prefer to have a more reliable, to prefer to have a third-party well-recognized server-assisted GNSS data. Together with the GNSS library, together with the ASSISTED GNSS library, we offer to our customer that reckoning library. You know, in the automotive application, the combination of the GNSS information plus the information from the car and the sensor-desert information are here for a complete automotive application. In this way, you can assure the quality of the position even in the area where the satellite signal is not visible, like tunnel or parking, or you can complement the information coming from the car and coming from the sensor to complement the GNSS in the critical environment when the GNSS signal is full. Our ST, the reckoning is well-proven in the market, is already popular in the market. We offer it in different flavors. We have a combination of what we call classic, is one-axis gyro plus automator information, or three-mounted, three-axis gyro plus automator information, or we can get sensor information coming from through the can using the stabilizer gyro or information coming from the wheel field or a mix of the two things. All of this, let me say, the combination of the CAN-based information or sensor-based information, sensor-based information can be combined with our SD draw offering, the more complete and, let me say, reliable and solid solution for that reckoning application. The last chart, one of the last chart is referred to our new development of what we are currently developing. Precess positioning is one of the key factors for the new coming application. I'm referring to autonomous drive. I'm referring to V2X vehicle to vehicle to infrastructure. In all of this application, precess position is a key factor. And SD is working on that. Our R&D team is working on that to assure the high level of position accuracy for this specific application, working with, of course, different technology available in the market offering to our automotive customer the best-in-class level in terms of position accuracy. The last chart is referred to, let me say, the Tezeo product roadmap. SD is the supplier in the market with the, today we can say, with the longer history. We are in the GNS GPS market since more than 20 years. We started in 1993 and the SD still continue to be on the age of the innovation. Then you selecting SD, you can have a clear roadmap to the future application with the solid base, the fulfillment by the solid history of SD. Today, we have currently in the market, Tezeo2 is one of the most popular GNSS solution in industrial automotive application. Tezeo3 is now in sampling phase. Production is planned by this summer, but we have already different customers already in development phase with Tezeo3 and our team, our development team has already almost frozen the new specification for the Tezeo4 that will be available in a couple of years with the innovative feature and the skill that we can assure the reliability of our solution, the stronger solution for the new innovative application where the precise position could be a key factor. Then just a summary of the discussion. In terms of position accuracy is a key factor in telematics. SD has the right product for this application and the result in the market of the multi-cost relationship that Tezeo2 conforming the quality of the accuracy of SDT solution. I think that's all for what concerns the chart and I'm available in case some of you is interested in some specific question. Let me say thank you for attending first of all but I'm available in case you have some specific question or if you have time, we can also meet in our booth behind this to have a dedicated section on Tezeo2, Tezeo3 or Tezeo GNSS solution.