Seagate hard drive shortage expected to continue in 2012
Hard drive supplies have been down ever since last year’s Thailand floods, and affected component suppliers will still be recovering for the rest of this year.
In their recently released fiscal second quarter financial results, Seagate acknowledged that hard drives supplies are still low and that the dearth is expected to continue throughout 2012. CEO, Stephen Luczo, had previously hinted at a continued shortage and the most recent reports only confirm the bad news.
According to the report, only 105 million of the 175 million units in demand have shipped thus far and shortages may reach 150 million units by the end of the year. Subsequently, companies are now looking into new ways to guarantee hard drive shipments and some have signed long-term deals with Seagate in order to ensure a steady stream.
As for the company’s overall financial results, 47 million units were shipped in this past fiscal quarter, a 4% decrease from this time last year. However, Seagate did recently close their purchase of the hard drive segment of Samsung Electronics, and managed to ship 700,000 units for a total revenue of $3.2 billion.