The recent consolidation in the spinning-platters storage business may continue, if a report from the Wall Street Journal this morning is correct.
The Journal says Samsung is looking to sell its hard drive business, which is losing money, so it can invest the proceeds elsewhere. The firm is reportedly seeking $1.5 billion in exchange for its hard drive unit, but it may be willing to take less than a billion. The Journal’s source cites Seagate as a potential buyer, although Seagate had no official comment on the matter.
There may be more to the story behind the Journal’s paywall, but that’s what we can glean so far. We’ll keep an eye on this one. Samsung’s reported desire to exit the hard drive business isn’t exactly a shock, given the rise of solid-state storage and Samsung’s own position as one of the world’s top memory manufacturers.