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Don't let anyone fool you into thinking the hard drive market is tanking. If that were the case, Seagate's fiscal quarter and year-end 2011 financial results would look decidedly different, but as it stands, the company claims to have shipped 52 million drives. Revenue for the quarter reached $2.9 billion with net income of $119 million.
"Seagate and the industry are benefiting from the significant demand for storage related to new applications and architectures associated with mobile and connected devices," said Steve Luczo, Seagate chairman, president and CEO. "Because hard disk drive storage is a fundamental technology for cloud service providers, data centers and all other network-based content providers, total industry demand grew almost 40 percent in fiscal year 2011 to 330 million terabytes."
In the interesting stats department, Seagate said the average capacity per drive shipped grew to about 590GB, which represents an increase of 39 percent year-over-year.
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livebriand
July 21, 2011 at 2:33pm
And in my experience, Seagate's quality got lost at sea. I prefer WD.
