Seagate CEO predicts price war

Posted on Saturday, August 12 2006 @ 12:59 CEST by Thomas De Maesschalck

Seagate's CEO expects rivals will try to grab more marketshare by lowering their prices.

Seagate Technology, the world's biggest computer disk-drive maker, expects aggressive moves by rivals to depress industry prices for another year, longer than most analysts predict, its CEO said on Wednesday.

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.

More info at Reuters.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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