Seagate expects flood-related hard drive shortages to continue

Seagate took some time out from its busy earnings reporting schedule to address supply concerns stemming from the recent devastating floods in Thailand. The storage manufacturer announced that hard drives supply will likely fall 150 million units short of demand by year's end. While Seagate's own factories weren't directly hit, suppliers for the company were impacted -- as were competitors, like Western Digital. The events have also had a more positive impact on Seagate, however -- as a result of the floods, a number of large buyers have entered into long-term agreements, according to the company.