As shown in Figure 1, in the first quarter of 2022, global fiber and copper access equipment revenue was $2.4 billion, down 17% from the record $2.9 billion in the fourth quarter of 2021, but up 19% from the first quarter of 2021 .Total passive optical network (PON) port equipment market revenue for the quarter reached $2.3 billion, down 18% sequentially (QoQ) but up 25% year-over-year (YoY).Point-to-point (P2P) port revenue totaled $39 million, up 37% sequentially and down 8% year over year.DSL and Gfast market revenue was $82 million, down 8% sequentially and down 43% year over year.In the four quarters of Q2 2021-Q1 2022, the global optical fiber and copper access equipment market totals $10 billion.In terms of shipments, global PON OLT port shipments were 3.8 million, a year-on-year increase of 51%.Shipments of ONT/ONU ports were 37.3 million, an increase of 16% year-over-year, mainly driven by the migration to PON.Global P2P port shipments in the first quarter of 2022 were 387,488, up 42% quarter-on-quarter but down 7% year-on-year.Global DSL and Gfast port shipments for the quarter were 2.5 million, down 7% sequentially and down 43.5% year over year.Global investment in 10G PON networks continues.In the first quarter of 2022, global shipments of 10G GPON OLT ports were 2.1 million, an increase of 6% from the previous quarter and a year-on-year increase of 110%.10G GPON ONT/ONU shipments were 2.5 million, basically the same as the previous quarter, but up 330% year-on-year.10G EPON OLT port shipments were 312,798, down 3% MoM but up 26.5% YoY.10G EPON ONT/ONU shipments were 1.3 million, down 26% MoM but up 131% YoY.In North America, 10G PON networks continue to grow as operators advance 10G PON OLT upgrades and network deployments.Shipments of 10G OLT ports increased by more than 200% year-on-year, and since the second quarter of 2020, total 10G ONT/ONU shipments in the region have exceeded 2.4 million.In the Europe, Middle East and Africa (EMEA) region, competition and network expansion continue to drive operators' choice for GPON and 10G networks.In the first quarter of 2022, 10G OLT port shipments in the region reached a record 182,019.10G GPON ONT/ONU increased by 93% year-on-year.Despite varying increases, the Rest of Asia and Oceania (RoAO) and Latin America and Caribbean regions both saw significant growth in PON port shipments.Construction in these areas includes Cable operators adding PONs to their own networks.In China, the upgrade to 10G and investment in fiber-to-the-room (FTTR) are continuing.China's 10G GPON OLT shipments in the first quarter of 2022 were 1,592,662, and 10G GPON ONT/ONU shipments were 1,887,607.In terms of 10G EPON, OLT shipments were 287,149 and ONT/ONU shipments were 1,255,232.The performance of Huawei and ZTE is largely due to the recent FTTR boom in China.This drives the upgrade to 10G OLT ports (mainly XG-PON1) and GPON ONT/ONU.We expect the FTTR upgrade boom to continue for multiple quarters in China and to kick off in some countries.Huawei's revenue was $774 million, up 26% year over year.ZTE's global revenue was $542 million, up 48% year over year.Although in the first quarter of 2022, Nokia was down from the strong fourth quarter of 2021, it still had a good performance in the current quarter - generating $473 million in revenue, up 19% from the first quarter of 2021.Figure 2: PON vendor market performance – 2Q21–1Q22, $9.4bn market