Western Digital Corp.
) HGST unveiled the USB 3.0 Touro S mobile external hard drives.
The new Touro S mobile drives enable users to backup data on hard
drives as well as on cloud. Moreover, the Touro hard drives
facilitate faster data transfer than other variants currently
Touro S Drive comes with a storage space of 1TB and is priced
at $99.95. There's also another version: the 500 GB Touro S
drive, priced at $79.95. With the 1TB local hard drive storage,
buyers will get 3 GB of Touro Cloud Backup for free, which is
upgradeable to 250 GB at an annual cost of $59. The hard drives
are compatible with
) Mac and PC versions. Moreover, customers who upgrade their
Touro Cloud Backup will receive free iPhone and iPad apps.
The launch comes at an opportune moment as storage services
related to smartphones and tablets are being adopted on a large
scale. The company is expected to get good mileage from its
cloud-based business. Cloud-based storage has become the order of
the day as it enables the access of content through different
gadgets such as smartphone, tablets and personal computers.
To cater to this pent-up demand, the company expanded its My
Cloud solutions with My Cloud EX4, a broader portfolio of network
attached storage hard drives. My Cloud EX4 will help the company
meet growing business needs with improved flexibility and
security. Since it can be accessed through iOS and Android
operating systems, users will be able to access data via
smartphones or tablets.
Moreover, the company is shifting its business model to more
non-PC oriented applications. In the last-reported quarter, 34%
of revenues came from non-PC applications. Additionally,
strategic acquisitions to expand its offerings in the SSD segment
is expected to place Western Digital in a better position
compared to its peers
) and Fusion-io.
However, sluggish macroeconomic factors coupled with declining
PC market and higher investments on innovative products remain
Currently, Western Digital has a Zacks Rank #3 (Hold).
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