Seagate earnings slump 83%

The economic crisis has slammed into Seagate's quarterly earnings, with the storage company suffering an 83.1 percent drop in net income. Several recent earnings reports from storage companies signal a downturn - EMC, Imation, QLogic and Sun for example. Seagate is now following suit. For its first fiscal 2009 quarter to the …

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Posted Thursday 23rd October 2008 09:54 GMT

Anonymous Coward

They'll never recover. #

1. Their entire industry is going to be replaced by ssds in less than 3 years.

2. The recession will take longer to climb out of it.

3. By then everyone will be buying ssds.

Seagate are screwed, and Danny Devito said it best.

"Back in the days when cars were invented, horsewhip manufacturers started to fail. As time went on, companies that made the best horsewhips fared better until there was only one left. It's horsewhip was the best there was. Unfortunately cars replaced the need for them."

The future is Intel, and Samsung.

Posted Thursday 23rd October 2008 10:21 GMT

Anonymous Coward

seagate ain't what they used to be #

Seagate used to be great drives, but now they are crap.

gimme a samsung spinpoint ANY day of the week!

WD are also kicking their ass.

but seagate/maxtor have a failure rate that beggars belief!

apart from the economic matters these dyas, the fact their drives are now crap doesn't help at all!

Posted Thursday 23rd October 2008 12:36 GMT

Chris W

Economy not the only reason #

AC 10:16 beat me to it but I'll second what he/she said Seagate drives have gone down hill. After a trial of running them in parallel with some WDs I've now switched to the latter.

Posted Friday 24th October 2008 09:52 GMT

Anonymous Coward

83.1%? (which doesn't count as a title for some reason) #

Is that 83.1/100 or 831/1024?

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