Hard Drive Demand Rockets
Seagate Technology, the largest U.S. maker of hard-disk drives, on Tuesday said that quarterly profit quintupled amid growing…
Seagate Technology, the largest U.S. maker of hard-disk drives, on Tuesday said that quarterly profit quintupled amid growing demand for laptops and consumer electronics such the iPod. Seagate has been profiting from booming sales of digital music players such as Apple's iPod and growing demand for set-top boxes in homes. Such devices have helped revive an industry that slumped as prices fell amid excess supply. "Healthy demand across all markets continues, with the most robust growth coming from the notebook and consumer electronics markets," Chief Executive Bill Watkins said in the statement.