Printed from http://www.electronista.com

Western Digital recovering faster than expected after floods

updated 06:45 am EST, Fri December 2, 2011

WD boosts sales forecasts for December quarter

Western Digital has said that due to the dedication of its teams, it is recovering faster from the devastating floods in Thailand that have seriously constrained worldwide supplies of hard drives. In response, the company has raised its revenue forecasts to $1.8 billion for the December quarter, according to Bloomberg. After the floods had occurred, the company's early estimates in October had only forecast sales of $1.25 billion for the period.

"The passion, perseverance, ingenuity and execution exhibited by the WD team has been extraordinary and enabled us to make substantial progress in partially restoring our operations in Thailand, well in advance of our earliest expectations when the floods hit," CEO John Coyne said.

"Much work remains to be done, but we couldn't be more pleased."

The company relies on Thailand for 60 percent of its total hard drive production, but expects to be able to boost its total output due to its planned acquisition of Hitachi Global Storage Technologies. It estimated that, even after insurance claims, it will have lost between $225 and $275 million as a direct effect of the flooding.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, we ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look good a ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

Advertisement

toggle

Most Commented