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Wednesday, April 20, 2011

New agreement for Seagate and Samsung

Disk drive producer Seagate Technology and Samsung Electronics have expanded their existing relationship.

The new agreement will see Samsung combining its hard disk drive operations into Seagate and receiving ‘significant’ equity ownership in Seagate. Samsung will provide Seagate with semiconductor products for use in a variety of Seagate products, while Seagate will supply disk drives to Samsung for PCs, notebooks and consumer electronics.

Dr Oh-Hyun Kwon, president of the semiconductor business of Samsung Electronics, said “Delivering value to the market and consumers is the primary goal of the extensive agreement announced today. Samsung looks forward to extending our existing strategic ties with Seagate, to deliver creative technology solutions for a broad diversity of consumer, business and industrial applications.”

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Author: The Fonecast
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