Thank you, John, good afternoon, everyone. We are pleased to report better-than-expected results in our fourth fiscal quarter, completing a year where we saw strong performance across our chip businesses, healthy global demand growth for 3G/4G devices, and we expanded on Qualcomm's fundamental leadership in 5G technologies. I am particularly pleased with the actions our teams have taken this year to advance the strategic objectives we set for the company. Almost two years ago, we set an ambitious target to significantly grow our serviceable available market by 2020. This past year saw substantial progress in the most critical new opportunities for the company. First, the announced acquisition of NXP provides important capabilities to grow our footprint in automotive, IoT and security. Second, we closed the RF front-end joint venture providing us with the remaining products and capabilities to fully compete in this growing area. Third, we announced the partnership with Microsoft to bring the advantages of low-power, high-performance computing to the mobile PC market.
In QCT, product demand and mix trends continue to be favorable and profitability improved again this quarter; now six quarters in a row of year-over-year growth in EBT and EBT margin expansion. For fiscal 2017, QCT EBT dollars grew more than 50% year-over-year driven by our strong product portfolio, favorable product mix, and growth in China and adjacent areas. QCT revenues outside smartphones in adjacent areas were more than $3 billion in fiscal 2017, up more than 25% year-over-year driven by better-than-expected growth in auto, networking and IoT, as we continue to successfully execute on our strategy to extend our mobile technologies into these new growth areas. We continue to see good trends in our business in China. We increased our share in fiscal 2017 with approximately 25% year-over-year growth in both QCT revenues and MSM chip shipments to Chinese OEMs.
And looking ahead, we are pleased to see 5G momentum there, including our 5G NR trial with China Mobile. In QTL, the second half of fiscal 2017 results were impacted by disputes with Apple and its contract manufacturers, as well as one other licensee. And we remain focused on defending our business and the value of our patented inventions for the long-term. 3G/4G trends around the world are very positive.
We are pleased to see that global shipments of 3G/4G devices remain strong, and we continue to forecast calendar 2017 device shipments to grow 6% year-over-year at the midpoint. Looking ahead to calendar 2018, we forecast stronger growth with 3G/4G device shipments expected to grow approximately 8% year-over-year at the midpoint, reflecting continued handset shipment growth, as well as stronger year-over-year growth in non-handsets. In addition, estimated global 3G/4G device ASPs are trending better-than-expected with ASPs in fiscal 2017 flat versus fiscal 2016.
The favorable end market trends for 3G/4G, the accelerating commercial timing for 5G, as well as the adoption of wireless technologies into new industries continues to be very positive for us. And our global scale, combined with our technology and product road map, are leading the industry. We are very excited about the increased momentum in 5G around the world. We are leading the industry and are accelerating the commercial launch of 5G across millimeter wave and sub-6 gigahertz in early 2019. We recently announced the world's first 5G data connection achieved on the Snapdragon X50 modem chip set, and our leading 5G 3GPP standards development, ongoing prototype efforts and are supporting global 5G new radio trials. In September, we announced our 5G new radio millimeter wave prototype that will be used for interoperability testing with our infrastructure vendor partners along with our previously announced sub-6 gigahertz prototype. With 5G commercial devices shipping in 2019, we expect to further expand our product and technology leadership position in modems.
Gigabit LTE is the first step in network operator's transition to 5G, and there are now 41 operators in 24 countries supporting Gigabit LTE. We have demonstrated download speeds of greater than 1 gigabits using our X20 LTE modem in the U.S. with both Ericsson and Verizon, as well as Nokia and T-Mobile. Most leading device-makers are rapidly adopting Gigabit LTE into their device portfolios. In the premium tier, our gigabit-enabled Snapdragon 835 now has more than 120 designs launched and in development, including recent flagship devices like the Samsung Galaxy Note 8, Pixel 2 and Pixel 2 XL, LG V30, and the Xiaomi Mi MIX 2. We have also introduced new high-tier and mid-tier Snapdragon products to further expand our competitive position in China across all tiers.
Turning to our pending acquisition of NXP. We remain focused on the last few regulatory approvals. We believe this acquisition will provide us with greater scale in automotive, IoT, security and networking, with their highly complementary products and world-class sales channel, serving a long tail of customers that are driving growth. Of the nine jurisdictions reviewing, we have approvals from five, including here in the U.S. and Taiwan with China and the EU the largest remaining. We are constructively working with each remaining regulator. And while the clock is stopped in Europe, there is nothing unexpected or surprising in that process for an acquisition of this size. Significant effort was expended throughout the year on integration planning with NXP. Along with NXP, we continue to see this as an attractive deal for both our stockholders and NXP stockholders at $110 per share, as the combination brings together a comprehensive set of capabilities to address next generation auto and IoT devices. We continue to focus on closing the acquisition by the end of calendar 2017 with a potential for the close to slip into 2018 based on the current status of approvals. On the regulatory matters, we are pursuing appeals and resolutions and are confident in the pro-competitive nature of our business.
We will continue to appeal the KFTC ruling and look forward to presenting our case in the U.S. FTC matter in early 2019. In Taiwan, we strongly disagree with the recently announced decision and have significant objections concerning the lack of due process that led to the decision. We will appeal and seek to stay the decision. The TFTC ruling was not by consensus. We understand there was dissent among the commissioners resulting in a split decision. We were also pleased to see the Taiwanese Ministry of Economic affairs publicly question the TFTC process and decision.
Finally, I would like to thank our employees for their hard work and focused execution throughout this past year. The team reported strong results in the product business validating both our strategy and the strength of our product portfolio. We will maintain our strong commitment to and focus on technology and product leadership as we drive innovation into new opportunities and toward the path of 5G. I would now like to turn the call over to George.