April 24, 2024 — According to the supply chain, hard disk manufacturer Seagate recently sent price increase notices to its major customers, stating that it will increase the price of its hard disk product suite.
Industry insiders said the move was in response to Western Digital’s price increase announced a week ago.
In the notice, Seagate outlined the reasons for its price increase, saying demand has returned to previous highs, but production capacity is low, as well as general inflation in global markets. As a result, Seagate will implement price increases for new orders and demand that exceeds previously committed, and expects supply to remain tight.
In addition, Seagate further warned that further price increases are likely to occur in the coming quarters.
The industry believes that as hard drives are becoming an important part of future artificial intelligence workflows, hard drive manufacturers around the world are ready for the industry to boom.