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iPod Sales Music to Seagate

Boot Camp feature for Tuesday, April 26, 2005

Apple's iPod sales are music to Seagate's ears. Bloomberg Boot Camp, a report on today's technology. The popularity of those iPod music players has meant big business for Seagate. Seagate's hard drives are what are inside many iPods. And beyond that…there is more demand for hard drives in video game consoles, digital video recorders and in add-on storage for personal computers. Seagate is out with a 400 gigabyte external drive with one button backup capability. Bigger drives are needed as consumers record video on media center PCs….and store more digital photos and music. Seagate CEO William Watkins…

"If I was to look back six years ago, you could cover the whole storage market with six products. Today, it takes 20. And in three years, it'll take 40 different products."

In addition to gigantic capacity add on drives…Seagate sells pocket sized models…shaped like a hockey puck…that can store 5 gigabytes. The market research firm IDC says global sales of hard drives may increase to a record next year thanks to sales of digital music players and other consumer electronics. And while Seagate faces competition from Maxtor and Western Digital….Watkins says…

"We're very positive. We're in a growth industry and we're the leader in that industry and we're pretty excited."

Seagate CEO William Watkins. You can find the external 400 gigabyte drives for under 350 dollars. Bloomberg Boot Camp, I'm Fred Fishkin.