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Seagate cuts current-quarter revenue estimate on weak demand

Reuters: Seagate said first-quarter revenue is likely to be 5 to 7 percent lower than its previous forecast of $4 billion.

Analysts on average were expecting revenue of $4.02 billion for the quarter ending September, according to Thomson Reuters I/B/E/S.

The company expects the total available market for hard drives in the first quarter to be about 140 million units and said it expects to maintain its 40 to 43 percent market share.

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Yi-Long1539d ago

... which is still a result of the south-asian floods a while ago.

I think many people, myself included, are just waiting for prices to drop again, because right now, a 2TB HDD is still about as expensive as 2-3 years ago (at least here in Holland they are).

mpctips1539d ago

I suspect they'll have a rebound of sorts when Windows 8 ships, leaving to the inevitable spike in PC sales.