Question-and-Answer Session
Operator
(Operator instructions) Our first question comes from Lin Yang [ph] of Barclays Capital. Please proceed with your question.
Lin Yang - Barclays Capital
Thanks for taking the questing and congratulations on an excellent quarter.
Patrick Lo
Thank you.
Christine Gorjanc
Thank you.
Lin Yang - Barclays Capital
I just wanted to first ask about the guidance, at the midpoint, it seems like it comes out to about maybe 2.5% sequential growth. It is a little bit below I think what you have done historically. Can you talk about some of the factors that may swing it to the lower end versus the higher end?
Patrick Lo
Clearly right now, the worldwide economies just in the early stage of stabilization. We are not living in a normal historical environment. As you can see last year, Q4 was actually significantly smaller than Q3. Under this kind of environment, it is still difficult to predict what the economy is going to do. I think Christmas around the world is still pretty big a testing – litmus test on how the economic recovery is going.
So I think compounded on that as we mentioned there is a pretty severe chip shortage that limit our supply capability. So I would say if Christmas turns out to be good or better than what we think and chip supply would ease a little bit than we will be at the high-end, but if Christmas turns out to be conservative as we think it could be and chip supply doesn't ease up it will be at the low end.
Lin Yang - Barclays Capital
Okay, that makes sense. And maybe just a question on the US retail environment, it sounds like you mentioned you are getting share, could you just maybe delve a little bit deeper into just the competitive landscape, how the pricing environment was for you this quarter?
Patrick Lo
The pricing environment has been very stable throughout the year, and you probably noticed that one of our weaker competitors dealing had been gradually exceeding the market. And clearly we are grabbing share from that opportunity. So that has enabled us to continue to ride on the improvement in the US market demand. As a matter of fact, the year-on-year growth on the US market is returning.
Lin Yang - Barclays Capital
Okay, I think that is all from me. Thank you.
Patrick Lo
Sure.
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