The recent floods in Thailand caused hard drive prices around the world to spike. Thailand is responsible for a large number of drives being sold, globally. Seagate and Western Digital, two of the biggest hard drive brands have their manufacturing units, there. Western Digital’s factories were reportedly affected by the floods and needless to say, their production took a beating.
Since then, there has been a shortage of hard drives and expectedly, their prices have almost doubled. Some 180 employees of Seagate’s total workforce have been affected by the floods. Seagate’s factories escaped the flood and things seem to be slowly returning to normal. Bloomberg spoke to the CEO of Seagate, Stephen J. Luczo about the hard drive crisis. He said that the worst is far from over and the crisis will continue through next year and prices are only expected to return to normal after that.
Prices continue to spin out of control
The reason for the prices is that many of the suppliers who ship parts to Seagate were hit by the floods. It’s not just computer users around the world who’ll feel the pinch of increased hard drive prices, but also large web hosting service and data centres who constantly require additional, large capacity storage drives.
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