HDD Shipments in 3CQ23 Down 8% Q/Q

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C3Q 2023 Hard Disk Drive Industry Update

Total HDD shipments in 3CQ23 were down 8.2% compared with 2CQ23 (28.6 million vs. 31.2 million). This continues the downward trend since 1CQ22. Total exabytes shipped in 3CQ23 were up about 0.61% from 2CQ23. Total estimated HDD revenues in 3CQ23 were down about 7% compared to 2CQ23. All storage and memory companies have been experiencing low demand through most of 2022 and 2023, but cut backs in production (both of HDDs and SSDs as well as DRAM) and depleting inventories at data center and enterprise customers may turn around demand, likely starting in 4CQ23.

HDD areal density production