➀ The Optical Transport equipment market saw a 19% year-over-year decline in Q2 due to excess inventory, project delays in Asia Pacific, and weak economic conditions. ➁ The inventory correction, which began in late 2023, is expected to continue for at least another quarter. ➂ The market outlook for 2024 has been revised downward, with a forecasted 8% decline in the Optical Transport equipment market.