Hard disk manufacturer
) has come up with a mobile wireless storage device: Seagate
Wireless Plus mobile device storage. The new product was
announced at the 2013 Consumer Electronics Show.
This particular device can connect up to eight smart phones or
tablets and can store 500 high-definition movies. The new device
has a 10-hour battery life.
This particular device can be used through the mobile Seagate
Media app for
) iOS, the Android OS from
) and any Kindle Fire HD devices from
). The company is using the Wireless Plus to enjoy video, photos,
music and even documents on the big screen via Apple Airplay,
DLNA or an app designed to cater to the Samsung Smart TVs and
The company is focusing on innovating new products. Seagate,
otherwise known for HDDs, also supplies solid state drives
(SSDs), demand for which is expected to pick up going forward.
However, the company has struggled a lot to gain significant
traction. In April 2011, Seagate added Samsung Electronics Co.'s
HDD business, which gave the company access to Samsung's
NAND-type flash chips for its SSD products.
This apart, the company has been able to control costs and
increase the sale of high-margin products. Moreover, Seagate is
coming up with new products to woo customers and address other
segments. Seagate also has greater exposure to high-end corporate
desktop and enterprise server markets than its rival
Western Digital Corp.
However, PC demand is yet to pick up substantially and
increasing use of SSDs will continue to affect the demand for its
core HDDs. In the last quarter, the company's Enterprise SSD
market did not grow as expected, though it did not impact margins
Currently, Seagate has a Zacks #3 Rank (Hold)
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