Maxtor will not produce 2.5-inch hard disk drives

Posted on Tuesday, January 25 2005 @ 18:34 CET by Thomas De Maesschalck

Maxtor cut the decision on Monday to not produce 2.5-inch hard disk drives. As a result of this the company will face charges of $5.4 million to $7.0 million.

Maxtor said it made its decision on Jan. 18, adding that it expects to spend $7.6 million to $9.0 million to pay third- party vendors for tooling, equipment, and component parts inventory related to the suspended disk drive.

More info at Reuters

About the Author

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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