Western Digital Working to Bring Thailand Factories Back Online
Western Digital recently announced that they are ahead of schedule on restoring production to their factories in Thailand damaged by the recent flooding there. Western Digital's Thailand factories are responsible for about 60% of the company's products and the damage done, as well as the damage done to the factories of the other hard drive component manufacturers in the region, have had a major impact on hard drive supplies around the world. Fortunately for Western Digital, the hard drive shortages have not had a negative effect on Western Digital's bottom line as they also announced that they expect quarterly revenue of about $1.8 billion versus the $1.05-$1.25 billion they had projected. Western Digital's rapid progress is good news, particularly for the folks in Thailand affected by the floods, so hopefully things continue to progress well. Any bets that hard drive prices don't fall as fast they have risen when the rest of the factories are restored?
"Much work remains to be done, but we couldn't be more pleased with the effort and results thus far, including tremendous support from our supply partners and customers," said Western Digital CEO John Coyne.