Yes, Hard Drive Prices Have Skyrocketed. Here’s Why

close-up of an opened hard drive

Perhaps you’ve noticed the prices of hard disk drives (HDD) going through the roof in recent weeks. Flooding in Thailand has decimated the manufacturing facilities for Seagate and Western Digital, the two largest players in digital storage (they supply 80% of the SATA drives on the market). Seagate indicated through its most recent SEC filing that its production capacity is less than half of what it was before the flooding.

These natural disasters also came on the heels of the world’s largest suppliers of rare-earth elements (which include the magnets used in hard disks) halting shipments for one month in order to drive up prices.

Industry analysts expect the flooding, which has also claimed hundreds of lives, to impact the HDD market for the next four to six months as alternate production facilities ramp up.

Keep checking back with the CMIT Solutions Blog for more developments on the shortage. We’ll post new information as it becomes available.

Back to Blog


Related Posts

15 Quick Keyboard Shortcuts to Supercharge Your Use of Microsoft Office

In late 2013 and early 2014, CMIT Solutions covered 10 tricks, tips,…

Read More

Personal Data at Risk if You Don’t Wipe Your Old Mobile Device

Over the last 12 months, the four largest mobile carriers in the…

Read More

Who Can You Trust with Your Information? Recent Poll Says Not Many Institutions

No technology trend has been more ubiquitous lately than online security (or…

Read More