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Seagate CFO Predicts 'Drastic' Changes to Customer Base

Seagate CFO Predicts 'Drastic' Changes to Customer Base

The chief financial officer of Seagate Technology Inc., a manufacturer of hard disk drives, said recently that an influx of competition and fewer customers purchasing computers will lead to a "drastic" change to the company's customer base during the next five years.

According to Dow Jones Newswires, CFO Patrick O'Malley said that the expected changes have forced Seagate to consider expanding into new markets, including home data storage products.

"You're just a product cycle or ecosystem away from being the best thing since sliced bread or the Wang computer," O'Malley explained, citing the computer company that declared bankruptcy during the 1990s. "I think people are always worried because it changes so fast ... but if you could guess with smart intelligence and make some good calls, I think there are great opportunities to reshape things."

O'Malley also noted that Seagate's acquisition of Samsung Electronics Co.'s HDD operations should be finalized by December, which will allow the company to move ahead with other strategical decisions, according to the news source.

While O'Malley may be concerned about the shifting consumer base, Seagate did recently unveil the world's first 4-terabyte external hard drive in the market, which is designed to allow users to store more than 2,000 HD videos, according to PCWorld.