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We have been investing in building a mobile-first selling capability by establishing the Consumer Channels Group to strengthen and align the device-selling motion and to expand our impact with OEM, retail channel partners and our operator channel, and by extending it with our opening of Microsoft Stores.

For commercial customers, we have invested in specialist mobile-first sales capabilities, and we are building out our device-selling channel.

Windows Mobile enables our industry partners to customize devices according to their customers' needs while including productivity features such as access to e-mail, contacts, calendar, and other critical business information for mobile workers on the go.

We are very pleased with Vodafone's decision to adopt Windows Mobile as a preferred software platform for its mobile business. Together, we will deliver services which we expect will help Vodafone achieve cost-efficiencies while delivering new propositions to its customers, thus making Windows Mobile an even more compelling platform.

A broad trend I'm completely obsessed with is mobile commerce. Like completely. I'm completely convinced that everybody's going to be buying from their mobile devices. Whoever can claim that space or be in that space, I'm very interested in.

Mobile entertainment is a huge opportunity. We are committed to mobile just as much as we are to PCs.

I believe the mobile OS market will play out very similarly to Windows and Macintosh, with Android in the role of Windows. And so, if you want to be in front of the largest number of users, you need to be on Android.

Traditional PCs face competition from specialty products like Palm Pilots and from the servers that provide the nodes in computer networks. Microsoft's Windows CE hasn't done too well in the specialty-device market, and its Windows NT faces strong competition for server customers.

Local commerce, without question, will be one of the fundamental use cases enabled by mobile devices over the next several years.

Going forward, we will focus on building the very best Windows phones on a quicker timeline. We will also focus on the channels and markets that offer the best returns. This is a similar approach to the one we have taken with Surface, which has been very successful.