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Technology Stocks : Seagate Technology

STX 288.00

-2.0%

Nov 11 4:00 PM EST

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To: Mozingo who wrote (7281)	6/11/1999 9:19:00 AM
From: DJBEINO	Read Replies (1) of 7841

Seagate Fuels Hard Disk Drive Price War in China June 11, 1999 (BEIJING) -- Seagate Technology Inc. of the United States started a new hard disk drive price war in China with the launch of its Barracuda ATA. The Barracuda ATA hard disk drive is said to perform 30 percent better than other products on the market while selling for a similar price. It also has higher shock resistance. According to Y.S. Chia, Seagate's Hong Kong/China sales director, the company plans to use the Barracuda ATA to squeeze mainstream hard disk drives out of the market. He said the new hard drive will pose a serious threat to products from Quantum and Maxtor, which are major competitors. Personal computers undergo a major upgrade every six months in China, and only Seagate, IBM Corp. and Fujitsu Ltd. can produce high-end hard drives, Chia said. He predicted that after the new hard drive enters the Chinese market, the memory capacity of the hard disks of PCs in China will be raised to 20-28GB by the latter half of the year. nikkeibp.asiabiztech.com

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