Thursday, August 10, 2006
Seagate Technology expects aggressive moves by rivals to depress industry prices for another year, longer than most analysts predict, its CEO said.
Chief Executive Bill Watkins said Seagate was prepared to meet hard-disk drive price cuts by competitors including Hitachi Ltd. and Samsung Corp., who are hungry for market share.
"If pricing doesn't drop for us, it'll be an upside," Watkins said in an interview.
Seagate said this week that its fiscal fourth-quarter net income plunged 98 percent on costs from acquiring rival Maxtor Corp. in May.
By: DocMemory
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