Seagate’s HDD Revenue (2016-2023)

This statistic highlights Seagate’s HDD Revenue, reported on a quarterly basis from Q1 2016 onwards.

Seagate Technology engages in electronic data storage technologies and solutions, founded by Finis Conner, David Thomas Mitchell, Alan F. Shugart, Syed Iftikar, and Doug Mahon in 1979 and is headquartered in Dublin, Ireland. Seagate’s first development was a 5.25-inch hard drive of 5 megabytes in 1980. Its products and services include internal hard drives, network-attached storage, high-performance computing, data protection appliances, backup and recovery services, and related solutions.

Seagate’s HDD product mix merely includes enterprise & cloud division; edge non-compute segment consists of the sale of in-device memory products and edge computing segment, which includes drives for desktops and notebooks.

The year 2016

Worldwide storage hardware market has witnessed a slowdown over the last few years due to a drop in prices and particularly low demand in the consumer market for laptops and desktop computers. Seagate also reported a fall in hard drive prices, leading to revenue declines over the last two years. Seagate’s HDD revenues through the first three quarters of 2016 have fallen by 21% year-over-year to around $7.7 billion. The reason is attributable to low unit shipments this year across product lines along with combined hard drive units shipped for the Compute segment was down by 20% YoY to 48.7 million units.

The year 2017

In Q1, the company reported an HDD revenue of $2.59 billion, which is slightly decreased by 4.78% YoY as all the segments witnessed a fall in sales by 15% YoY. Edge non-compute revenue remains unaffected in Q2, while other segments saw a downfall, which slightly increased the revenues to $2.65 billion. Remaining quarters just saw a linear downfall as edge compute revenue has been dropping steadily and expected to see the trend to continue in the future as demand for PCs and notebooks fails to pick up.

The year 2018

In Q2, Seagate reported YoY growth in revenue, exabyte shipments, and profitability along with strong demand in the enterprise segment. In other segments, Seagate anticipates sequential unit demand decline, which the firm has attributed to seasonality. Seagate believes that its nearline products are in the early stages of global cloud storage transformation because they were driving the revenue.

The year 2019

Total revenue has dropped from $10.39 billion in 2019 from the last two years because of lower demand and pressure on the memory market. Out of which, total HDD revenue has dropped 17% in the last quarter YoY on the back of slow demand growth. Revenue from the edge compute segment has been a significant loser, losing the HDD revenue significantly. Mainly due to the growing use of streaming services and cloud storage services, which has driven down demand for physical storage devices. However, edge non-compute revenue, which includes the sale of in-device memory products, remains unaffected.

The year 2020

Overall, HDD revenue, expected to rise as Seagate’s enterprise & cloud division is expected to contribute well to total revenue in 2020 and can make up 41% of the company’s revenue estimate. The edge non-compute segment, which mainly offers external storage devices, comes in at a close second and is expected to make up around 40% of 2020’s revenue estimate. And the remaining edge computes business, expected to make up 19% of the total revenue estimate.

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