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Data storage giant Seagate has released earnings for its most recent quarter, and things are far from ideal as total revenue fell nearly 40% year over year, with a net loss of $33 million.
Still, the company has big plans for it HDDs, which will get some massive storage boosts in the coming year – which it hopes will make enough of a difference to turn a profit next year.
Sometime in the first half of 2023, Seagate hopes to release 22TB CMR and 24TB SMR versions of its flagship HDD, but this is just the beginning. The momentum will continue as the company looks to deliver even larger hard drives.
Seagate HDD formats
Seagate has already tested its heat assisted magnetic recording (HAMR) HDDs with selected customers and hopes to launch the second generation later this year.
The company’s CEO, Dave Mosley, explained on a conference call that a 30TB version of this latest technology should launch in the June 2023 quarter, which is slightly ahead of schedule.
Initially, HAMR HDDs are likely to be the reserve of more expensive hard drives, but the technology will inevitably trickle down to more affordable options in due course.
In addition, Seagate says it managed to build a 5TB 3.5-inch drive, potentially pushing limits even higher. For example, a 10-dish hard drive could hold 50 TB of data — a goal it plans to reach by 2026, according to its roadmap.
While many individuals and businesses may not be willing to invest in such high-quality (and likely expensive) storage drives, the seepage of technology and the potentially resulting reduction in costs is more welcome news.