Seagate will miss its fourth quarter's sales target as its competitors recover faster than expected from floods that knackered hard drive supplies.
The storage biz also had a quality-control issue with an enterprise disk product, which reduced shipments by 1.5 million units to 66 million, and increased costs. It issued a preliminary set of quarterly results to prepare Wall Street for the shortfall, adding that it expects to report $4.5bn (£2.9bn) revenues instead of $5bn (£3.2bn) and a 1 per cent fall in its gross margin to 33.6 per cent.
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