"Within the enterprise and desktop hard drive segments, Seagate has proven over and over how its speed, flexibility, and efficiency allows the company to benefit from new opportunities," said Dave Reinsel, research manager at market research firm IDC. "The launch of its new Momentus reflects the company's intent to do the same in the mobile segment. The market for notebook hard drives is growing faster than the PC or the enterprise hard drive market, and will reach 50 million units in CY04. Given the limited number of notebook hard drive manufacturers, the market is ripe for additional vendors to emerge. Seagate, with its proven successful business model, is in a prime position to capitalize on this burgeoning growth opportunity."
"HP worked closely with Seagate on the early development of the Momentus product to define and agree on specifications, strengthening our long-standing technology alliance," said Margaret Franco, marketing director, mobile business PCs at HP. "We've teamed up to align our product plans, enabling a fast effective launch with a focus on a reliable product."
"We welcome Seagate's entry into the notebook disc drive market," said Teresa Hsieh, associate vice president, IT products business group, Acer. "Seagate has done a good job of meeting our storage needs in the PC and Enterprise markets, and this announcement indicates that their industry leadership has resulted in an excellent combination of performance and durability for the Momentus disc drive."
"For the last five years we've been improving all areas of the business so that we can effectively address every major disc drive market with the same success we've had in the desktop and enterprise markets," said Steve Luczo, Seagate chief executive officer. "As a result, we get unique leverage from our design, technology, manufacturing and customer-process platforms that allow us to reliably and cost-effectively enter new markets. Today, we're excited to enter the notebook market with a quality drive that we are confident will meet the performance and reliability requirements of our customers."
Performance and Technology Along with a rise in demand for notebook computers is a demand for increased performance. Up until now, a faster drive wasn't practical in notebook computers because it consumed the battery too quickly. Momentus unlocks the power of notebook computers with a 5400-rpm spin speed, optional 8-Mbyte cache, and low battery consumption that's competitive with 4200-rpm hard drives thanks to careful optimization of power management in the drive's electronics. Tests show that Momentus is 47 percent faster at opening a 12-Mbyte Excel file, 30 percent faster at copying a 170-Mbyte folder, and 47 percent faster at shutting down Windows XP than today's standard 4200-rpm notebook drives. With the 8-Mbyte cache option, the drive performs up to an additional 15 percent faster.
Seagate is well known for its quiet and rugged hard drives, and has made Momentus whisper-quiet by using proven Seagate SoftSonic FDB motors and the innovative QuietStep ramp load technology. QuietStep parks the heads safely off the disc during standby, but reduces the clicking sound typically made by other notebook hard drives when loading and unloading its heads to the ramp. Seagate's rugged design gives Momentus a 225-G operational shock tolerance, among the best in the industry. Momentus offers popular capacities of 20 and 40 Gbytes on a robust one-platter design, and is shipping to OEM customers now.
Seagate is the worldwide leader in the design, manufacturing and marketing of hard disc drives for Enterprise, PC and Consumer Electronics applications. The Company is committed to delivering award-winning products, customer support and reliability, to meet the world's growing demand for information storage. Seagate can be found around the globe and at www.seagate.com.
Seagate and Seagate Technology are registered trademarks of Seagate Technology LLC. The wave logo, Momentus, SoftSonic and QuietStep are trademarks or registered trademarks of Seagate Technology LLC. All other trademarks or registered trademarks are owned by their respective owners.
Safe Harbor This press release contains forward-looking statements based on information available to Seagate as of the date of this release within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to our future products and product development plans and offerings, keeping pace with technological change, price and product competition, customer demand for our products, and general and market conditions. These forward-looking statements are based on current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. For more information regarding the risks facing the Company, we refer you to the Company's periodic reports filed with the SEC, including its most recent 10-K and 10-Qs. The Company assumes no obligation to update the forward-looking information contained in this press release.