Seagate Technology is a leading provider of data storage technology and infrastructure solutions. The company's core business revolves around the design and manufacturing of hard disk drives (HDDs), solid state drives (SSDs), and storage subsystems. Seagate offers solutions for enterprises, cloud service providers, and consumers. Their products are used in various applications, including hyperscale data centers, private and public clouds, video and image storage, and consumer devices. Seagate's competitive advantages lie in its vertically integrated manufacturing process, which allows for cost control and optimization of component functionality. The company has a global presence with key operations in Asia, Europe, and the United States.

• Employees: 30,000 (as of June 28, 2024)
• Geographic Footprint: Operations in Asia, Europe, and the United States
• Headquarters: Singapore
• Founded: 1979
• Number of locations/facilities: Multiple manufacturing and product development facilities across the globe
• Revenue: $6.6 billion (FY2024)
• Market Capitalization: $17.8 billion (as of December 29, 2023)
• Key Subsidiaries/Brands: LaCie, Lyve

• CEO: William D. Mosley
• CFO: Gianluca Romano
• Chief Commercial Officer: Ban Seng Teh
• Chief Legal Officer and Corporate Secretary: James C. Lee
• Senior Vice President, Global Operations: KianFatt Chong
• Senior Vice President and Chief Technology Officer: John C. Morris

Dr. William D. Mosley has served as CEO since October 2017, and previously as President and COO. Gianluca Romano has served as CFO since January 2019. Ban Seng Teh has served as Chief Commercial Officer since July 2022. James C. Lee has served as Senior Vice President, Chief Legal Officer and Corporate Secretary since June 2024. KianFatt Chong has served as Senior Vice President, Global Operations since October 2020. Dr. John C. Morris has served as Senior Vice President and Chief Technology Officer since 2019.

• Annual Revenue: $6.6 billion (FY2024)
• Net Income: $335 million (FY2024)
• Market Cap: $17.8 billion (as of December 29, 2023)
• Total Assets: $7.7 billion (as of June 28, 2024)
• Employees: 30,000 (as of June 28, 2024)
• Key Financial Highlights: Gross margin of 23% in FY2024. Operating cash flow of $918 million in FY2024.

Seagate offers a broad range of storage solutions, including:

• Hard Disk Drives (HDDs): Primary medium for mass data storage, designed for high capacity, reliability, and cost-effectiveness. Includes nearline, video and image, and network-attached storage (NAS) applications.
• Solid State Drives (SSDs): Use NAND flash memory for fast data access and robust performance, complementing HDD storage architectures.
• Storage Subsystems: Includes modular storage arrays and servers for enterprises and cloud service providers.
• Lyve Platform: A scalable edge-to-cloud mass data platform that includes data transfer shuttles and a storage-as-a-service cloud.

Seagate operates as a single reportable segment, focusing on the manufacture and distribution of storage solutions. Revenue is generated from sales to OEMs, distributors, and retailers.

• OEMs: 75% of revenue (FY2024)
• Distributors: 15% of revenue (FY2024)
• Retailers: 10% of revenue (FY2024)

Seagate's strategic priorities include:

• Focusing on mass capacity storage solutions for cloud, edge, and enterprise applications.
• Leveraging its vertically integrated manufacturing process to optimize costs and product performance.
• Investing in research and development to bring new products to market in high volume.
• Expanding its Lyve platform to manage, transport, and activate massive volumes of data across distributed enterprises.
• Improving supply predictability and aligning supply with customer demand requirements.

Seagate operates in the data storage industry, which includes manufacturers of components and data storage devices, as well as providers of storage solutions, software, and services. Key market trends include:

• Primary Industry: Data storage
• Market Trends: Rapid growth of data generation, increasing demand for higher capacity storage solutions, proliferation of edge computing, and the rise of AI and machine learning.
• Key Competitors: Micron Technology, Samsung Electronics, SK hynix, Kioxia Holdings Corporation, Toshiba Corporation, and Western Digital Corporation.
• Market Position: A leading manufacturer of hard drives and storage solutions.

• Market Risks: Intense competition, technological changes, price erosion, and reduced demand from key customers.
• Operational Risks: Supply chain disruptions, reliance on single-source suppliers, and manufacturing defects.
• Financial Risks: Inability to generate sufficient cash flow, fluctuations in quarterly results, and counterparty default risks.
• Regulatory Risks: Compliance with export control laws, environmental regulations, and data privacy laws.
• Business Risks: Inability to successfully introduce new products, long and unpredictable sales cycles, and macroeconomic conditions.