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Toshiba HDD Revenue Nearly Doubling Y/Y at 122.6 Billion Yen in 1FQ21

Thanks to nearline HDD shipment of 2.79 million units (+32% Q/Q) for capacity of 34.15EB (+33% Q/Q)

Toshiba America Electronic Components, Inc. (TAEC) announced that, for a second consecutive quarter, the company posted a 30+% Q/Q growth in nearline HDD unit shipment and capacity shipped.

Nearline HDD shipments and exabytes reached 2.79 million and 34.15 representing sequential growth of 32% and 33%, respectively.

According to Trendfocus’ new report (SDAS: HDD Information Service CQ2 ’21 Quarterly Update – Executive Summary August 5, 2021), Toshiba’s four-quarter average unit and capacity shipped growth rates for nearline HDDs led all companies at 35% and 46%, respectively. Additionally, it was the only company to post growth rates higher than the industry’s four-quarter average.

Demand for HDDs, specifically nearline HDDs, have been on an upward trend due to strong cloud and OEM demand, while the initial launch of the Chia cryptocurrency fueled new incremental channel requirements. Toshiba’s competitive Nearline HDD product line up is lifting the company to new records,” stated John Chen, VP, Trendfocus. “Moreover, Toshiba’s FC-MAMR (Flux Control – Microwave Assisted Magnetic Recording) technology used in its 18TB (MG-09) nearline HDD product should provide a robust foundation to build upon for its next-gen products.”

Trendfocus’ report shows that total nearline HDD shipments topped 19 million units in 2Q21, smashing the previous record of 17.19 million set in 1Q20. And for the first time, nearline HDD exabytes shipped surpassed the 200 mark as it reached 243EB for the quarter.

Setting back to back quarterly nearline HDD unit and exabyte shipment records is a testament to all of our employees’ hard work and dedication, as we continue to navigate through a very challenging supply chain environment,” said Kyle Yamamoto, VP of TAEC’s HDD business unit. “2Q21’s solid results reflect our broadening partnerships across key cloud, OEM and channel customers, as we continue to invest in manufacturing scale to support their growing storage demand.”

As a global technology company that has been innovating in storage for years, Toshiba offers a comprehensive portfolio of HDD products that address the storage needs of enterprise, datacenter, surveillance, and client markets. It solves customer challenges with HDD models focusing on 4 primary market segments. The AL Series focuses on the enterprise performance segment; the MG Series is aimed at enterprise capacity and data center needs; the MQ Series covers the broad spectrum of use cases that require mobile client HDDs; and the DT Series addresses the surveillance and traditional desktop client use cases.

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In 1FQ21 ended June 30, 2021, Toshiba Corp. saw global sales (727.9 billion yen, +21% Y/Y) and operating income (14.5 billion yen, +14.5%) increased, mainly due to improvement of semiconductors and HDDs. Net income reached 18 billion yen from loss of 11.3 billion yen one year ago.

Sales of HDD, materials and devices, and resale of memory products were 122.6 billion yen in 1FQ21, up 57.9% from 64.7 billion yen in 1FQ20. Operating loss of 1.8 billion yen became operating income of 4.7 billion yen, respectively for the two periods.

These sales were 398.0 billion yen in FY20 and are forecasted to reach 460.0 billion yen in FY21. Operating loss of 1.2 billion yen became operating income of 24.0 billion yen, respectively for the two periods.

Overall, Toshiba is the ≠3 HDD manufacturer with approximately 21% of the WW market, behind ≠1 Seagate and ≠2 Western Digital.

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