Storage price competition that has seen products selling for as little as 2p per megabyte is set to end, according to industry insiders.
EMC chief executive Joseph Tucci explained that the price discounting on enterprise data storage hardware, which intensified last year, has slowed down in the last few months, and that the market had finally bottomed out.
"There's a little bit of sensibility in the market, but it's still tough," he told the South China Morning Post.
This couldn't come at a better time for EMC. The company suffered a loss last year of £359m ($508m) and incurred restructuring costs of £477m ($675m). "Pricing wars, as with any war, have a beginning and an end," said Tucci.
The price war started when EMC marked down its prices following calls from customers that its products were significantly more expensive than its rivals'. This in turn led to hostile reductions from competitors.
But analysts believe that news of the end of the hostilities is premature. Klaus Egge, principal director at IDC, said that if prices were about to go up then that would be "[Tucci's] opinion". But Egge still sees signs of recovery in the industry.
"The assumption is correct that the economy is about to pick up," he explained. "There are signs that storage vendors seem to be pulling in better than expected results."
"If that is combined with enterprises starting to spend a bit more on storage, then storage will be a good market to be in," he added.
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