HDD Industry in 1Q24

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C1Q 2024 Hard Disk Drive Industry Update

Total HDD shipments in 1Q24 were up 3.0% compared with 4Q23 (29.7 million vs. 28.9 million). Total exabytes shipped in 1Q24 were up about 23.2% from 4Q23 (279EB), driven by greater sales of mass storage HDDs, such as nearline drives. HDD revenue ($3.94 billion) were up about 19% from the prior quarter. 1Q24 continued the upward trend in unit and exabyte shipments as well as revenue that started in 4Q23. Other memory and storage products are also recovering.