The growth of portable PCs and MR head drive technology will determine Seagate Technology?s success in coming years, according to executive vice president Steve Luczo.
Continuing cost savings as a result of the company's acquisition of fellow storage maker Conner should help Seagate achieve its goals, analysts said, after hearing Luczo address the Hambrecht and Quist Technology Conference in San Francisco last week. "Lots of people think I?m crazy," Luczo said. "But I think 30 to 40 per cent of the business will be mobile computing within a few years."
Seagate, which was heralded as the most consistent and profitable company in IT by investment managers at the conference, expects sparkling results in its 1997 financial year, which ends in June. Luczo said the company?s transition to MR head drive manufacturing will be complete within months. In the third quarter of 1997, the company made 39 million drives based on thin film inductive heads and 26 million MR head drives.
Luczo said he is happier than he was with the performance of the Seagate Software subsidiary, which reported turnover of $58 million in Q3. "It is the merger of 10 software companies and was reorganised in Q3," he said. But he dismissed any ideas about Seagate cutting prices. "Buying market share is not a good idea - we?re building our brand," he claimed.
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