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Seagate Technology
(345)
949-8066
P.O.
Box 309GT
Ugland House, South Church Street
George Town, Grand Cayman, Cayman Islands
www.seagate.com
Sales
$6.2
billion
Business Description
We are a leader in the design, manufacturing and marketing of rigid disc
drives. Rigid disc drives, which are commonly referred to as disc drives or
hard drives, are used as the primary medium for storing electronic
information in systems ranging from desktop and notebook computers, and
consumer electronic devices to data centers delivering information over
corporate networks and the Internet. We produce a broad range of rigid disc
drive products that make us a leader in enterprise applications, where our
products are used in enterprise servers, mainframes and workstations;
desktop applications, where our products are used in PCs; mobile computing
applications, where our products are used in notebook computers; and
consumer electronic applications ,where our products are used in digital
video recorders (DVR’s), gaming platforms, and digital music players.
We sell our rigid disc drives primarily to major original equipment
manufacturers, or OEMs, and also market to distributors under our globally
recognized brand name. For fiscal years 2004, 2003 and 2002, approximately
60%, 61% and 66%, respectively, of our rigid disc drive revenue was from
sales to OEMs, including customers such as Hewlett-Packard, Dell, IBM, EMC,
and Microsoft. We have longstanding relationships with many of these OEM
customers. We also have key relationships with major distributors, who sell
our rigid disc drive products to small OEMs, dealers, system integrators and
retailers throughout most of the world. Also, we are currently expanding our
direct sales to retailers. For fiscal years 2004, 2003 and 2002,
approximately 30%, 34% and 39%, respectively, of our revenue came from
customers located in North America, approximately 30%, 31% and 31%,
respectively, came from customers located in Europe and approximately 40%,
35% and 30%, respectively, came from customers located in the Far East.
Substantially all of our revenue is denominated in U.S. dollars.
Products
We offer a broad range of 3.5-inch form factor rigid disc drive products for
the enterprise, desktop and consumer electronics sectors of the rigid disc
drive industry. During fiscal year 2004, we introduced the Momentus family
of 2.5-inch rigid disc drives for notebook computers. Also, during fiscal
year 2004, we introduced Savvio, our first 2.5-inch enterprise disc drive.
We offer more than one product within each product family, and differentiate
products on the basis of price/performance and form factor, or the
dimensions of the rigid disc drive. Historically, our industry has been
characterized by continuous and significant advances in technology, which
contributed to rapid product life cycles; however, based upon the recent
pace of new product introductions, we believe that our industry is currently
in a period in which the rate of increases in areal density, which is the
storage capacity per square inch on a disc, is lower than the rate of the
last several years, resulting in longer product life cycles.
In June 2004, we announced 12 new rigid disc drive products which will be
introduced in fiscal year 2005, including:
• our first 1-inch form factor rigid disc drive, which will be primarily
used in hand held consumer electronics devices such as digital audio players
and digital cameras;
• larger capacity 3.5-inch form factor rigid disc drives to address the
market for larger capacity personal video recorders and home media storage
devices and near-line enterprise applications;
• additional capacity models of our 2.5-inch form factor Momentus mobile
computing rigid disc drive, which will more completely address our
customers’ mobile computing disc drive requirements; and
• new versions of our current Barracuda and Cheetah desktop and enterprise
rigid disc drives.
Many of these new product will address disc drive applications for which we
currently have no product offerings.
Enterprise Storage
Cheetah Family. Commercial uses for Cheetah rigid disc drives include
Internet and e-commerce servers, data mining and data warehousing,
mainframes and supercomputers, department/enterprise servers and
workstations, transaction processing, professional video and graphics and
medical imaging.
Savvio Family. Savvio is our new 2.5-inch enterprise disc drive. This disc
drive is our first enterprise disc drive in the smaller 2.5-inch form factor
and, as such, allows the installation of more disc drives per square foot,
thus facilitating faster access to data.
Desktop Storage
U Series X and Barracuda ATA/SATA Family. The U Series X and Barracuda ATA/SATA
family of rigid disc drives are used in desktop applications, workstations
and low-end server applications.
Consumer Electronics Storage
U Series and Barracuda ATA/SATA Family. The U-9 Series of rigid disc drives
are used in new markets, including personal video recorder (PVR), video game
consoles, audio jukeboxes, home media centers, and home and industrial
security systems. The Barracuda 7200.7 is used in PVR’s and the U Series X
is used in PVR’s and gaming applications. Our consumer electronics (CE)
drives feature quiet acoustics, high reliability and high performance
streaming.
Mobile Computing
Momentus Family. Momentus is our introductory mobile computing rigid disc
drive product. The current Momentus rigid disc drives target only a portion
of the mobile computing market. Commercial uses for Momentus rigid disc
drives include notebook computers running popular office applications and
laptops for business, government and education environments. Consumer uses
for Momentus rigid disc drives include home notebook computers, tablet
computers and digital audio applications.
Customers
We sell our rigid disc drive products primarily to major OEMs and
distributors. OEM customers incorporate our rigid disc drives into computer
systems and storage systems for resale. Distributors typically sell our
rigid disc drives to small OEMs, dealers, system integrators and other
resellers.
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