Items tagged with floods

Toshiba and Western Digital announced a deal today in which the two companies will essentially swap some manufacturing equipment with each other -- though which is getting the better deal is debateable. Western Digital has agreed to sell Toshiba certain assets related to the production of 3.5" hard drives "to address the requirements of the regulatory agencies that have conditionally approved or are continuing to review the company's planned acquisition of Hitachi Global Storage Technologies (HGST)." Translation: We really want to buy Hitachi, so we're giving Toshiba a deal." As part of that deal,... Read more...
Seagate this week reported financial results for the quarter ended December 30, 2011, in which the company said it shipped 47 million disk drives and collected $3.2 billion in revenue. For the six months ended on the same day, Seagate says it collected revenue of $6 billion and returned $151 million to shareholders in the form of a dividend. Not too shabby when you consider severe floods in Thailand left the hard drive industry in shambles. Unfortunately for Joe Consumer, relief is hardly in sight. In a supplementary note (PDF) discussing its quarterly results, Seagate warned that the impact of... Read more...