Seagate Expects HDD Prices to Slide in September

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Seagate warns price dip but upbeat for hols
Seagate Technology expects prices for its hard drives to slide in September in the wake of an industry glut, but is hopeful prices will bounce back on solid holiday season spending. Chief Financial Officer Patrick O’Malley told Reuters on Thursday that global drive production had overshot demand in past months. To protect its leading market share versus rivals Western Digital Corp and Hitachi, Seagate will likely take a hit on prices, he said in a telephone interview.