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Seagate shows signs HDD market is recovering from floods

Simon Quicke

The hard disk drive industry appears to be getting over the worst of the Thailand floods with Seagate following its rival Western Digital in reporting better than expected financial results.

Both vendors were impacted heavily by the floods, which took numerous production facilities off-line, but the response was swift and efforts to get factories up and running has paid off.

Seagate shipped 47m disk drives for its second quarter ended 30 December and reported revenues of $3.2bn compared to $2.7bn a year earlier and net income of $563m up substantially on the $150m in the same period in 2010.

"The industry's ability to manufacture and ship hard disk drives was severely disrupted by flooding in Thailand and is now slowly recovering," the vendor stated.

The vendor offset the worst of the floods by sourcing supplies from other parts of the world but even given those steps the industry was still hit in terms of units.

"Shipments of Seagate hard disk drives (excluding Samsung unit shipments of 700,000) decreased 9% sequentially," the vendor stated.

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