Feeds

Seagate hit by component famine

It's gonna last well into March 2001

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Seagate, the world's biggest HDD drive company, today said it would be unable to meet all customer demand because of a components shortage. It expects this to continue for at last well into the start of 2001.

Charles Pope, the company's chief financial officer specifically referred to unfulfilled demand in the Pacific Rim.

The problems will have a knock-on effect on the revenues as the traditional declinines in unit prices will not be countered by better sales. Pope also said that the price of a hard drive had dropped more than average this year - ten per cent as opposed to the usual eight per cent decline.

The company said that Asia has been noticably affected by the shortages. The region accounted for 26 per cent of total sales revenue last quarter, but that had fallen to 22 per cent this time round.

To offset the drop in revenues the company is cutting costs by reducing the number of employees. Six months ago Seagate employed 59,656 people but by the end of the quarter ending in September, this number had been slashed to just under 57,000.

Despite all the doom and gloom, the company's results for Q4, ending 30 September, were not too shabby. Net income was up from $2 million to $75 million, or 31 cents per share for the same period a year earlier. Shipments stood at 11.6 million drives, also higher - by 13 per cent - than a year ago. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.