Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Seagate
Companies and corporations

A history of the development of hard drive manufacturer Seagate

16.05.2023
2 min read

Seagate: a history of innovation in the hard drive market

Seagate is a U.S. company that designs and manufactures hard drives and storage devices. The company’s history began in 1978 in Dublin when five entrepreneurs founded Shugart Technology.
One of the founders, Finis Conner, approached Al Shugart with the idea of starting a 5.25-inch hard drive manufacturing business. His main argument was that the demand for such devices would only increase due to the rapid development of the market. The entrepreneurs brought in partners and registered Shugart Technology. Later, the company name had to be changed to Seagate because the American company Xerox had a subsidiary called Shugart Associates.
Seagate released its first product in 1980, a 5-megabyte hard drive. It was the first in the world to have a 5.25-inch form factor. It also used advanced frequency modulation encoding. The drive was immediately popular and Seagate was able to sign an agreement with IBM Corporation. IBM selected Seagate as a leading component supplier for its personal computer.Seagate hard driveIn its first year of existence, hard drive sales had already reached the $10 million mark. By 1983, Seagate had produced more than 200,000 drives, generating $110 million in revenue. The company controlled about 45 percent of the market.
The business was growing rapidly. As part of its expansion strategy, the Control Data division of Seagate became part of the company in 1989, focusing on server technology and storage solutions.
In 1991, Al Shugart took over the company and began transforming the business to win more lucrative market niches. That same year Seagate introduced a new generation hard drive that delivered 7,200 RPMs per minute. By 1993 the company’s shipments reached a record 50 million.
Seagate merged with Conner Peripherals in 1996 to become the world’s largest hard drive manufacturer. The deal also allowed the companies to combine technology and simplify component assembly.
Despite its leadership position in the industry, Seagate was challenged by the market downturn in 1997. To deal with the crisis, the company began a restructuring process that included a change in top management. Seagate also reduced its workforce from 110,000 to 50,000.
It has been developing object storage and data center software since 2020. In 2022, Seagate released a lidar system.

Tags: Companies and corporations
0
Previous Post A loan as a way to obtain funds on the condition of further repayment Next Post Kathy Lien: a professional path of an authoritative stock market analyst

You Might Also Like

Baidu
Companies and corporations
How the Chinese IT giant achieved market leadership: the Baidu story
09.06.2023
TripAdvisor
Companies and corporations
The history of the creation and development of the TripAdvisor review portal
29.11.2024
State Grid
Companies and corporations
State Grid electric power corporation: development of the world’s largest state-owned structure
13.03.2023
Raytheon
Companies and corporations
How the Raytheon Company gave the world microwaves and the Patriot system
24.09.2023
Oracle Inc
Companies and corporations
American corporation Oracle Inc: business scope and product overview
15.01.2021
IBM corporation
Companies and corporations
IBM Corporation: the history of one of the market leaders in computer technology
21.12.2021

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics