Seagate readies price cuts


— 7:36 PM on August 9, 2006

Some of Seagate's hard drives are already quite competitively priced, but the company is bracing for price cuts, according to Bill Watkins, Seagate's CEO. Watkins told Reuters his company was prepared to counter cuts from Hitachi and Samsung, who are "hungry for market share," and that the price war in the hard drive market will rage on until at least the middle of next year. The market that plays host to the toughest competition is naturally the budget segment, where 80GB and smaller hard drives are now retailing for $40 or less. However, Wall Street analysts predict that prices are likely to start stabilizing at the end of this year because of high demand tied to the holiday season.

 
   
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