SyQuest ships portable hard drive, hoping it brings financial salvation

Article Abstract:

SyQuest Technology introduces its $299 EZFlyer 230MB, a removable cartridge hard drive that the company is positioning as a faster, more powerful alternative to Iomega's popular Zip 100MB drive. The EZFlyer costs approximately 50% more than Iomega's model, provides 130% more storage and uses removable storage cartridges that cost $30 each. Analysts suggest that the EZFlyer's best chance for success is the fact that it beats Iomega's 200MB drive to market and compares favorably with erasable magneto optical drives. SyQuest is hoping that EZFlyer will gain market acceptance and provide the company with the increased revenues that it needs in order to remain solvent and compete with highly-successful Iomega. SyQuest did not fare well in a pricing war with Iomega in late-1995 and early-1996, slashing prices of its EZ-135 to sub-cost rates and posting a 1st qtr 1996 loss of $51.1 million.

Computer hardware, Product introduction, Product Announcement, Equipment and supplies, Computer peripherals industry, Hardware product introduction, Removable-media drive, Removable media drives, Removable drives, SyQuest Technology Inc., SYQT, SyQuest Technology EZFlyer 230 (Removable-media drive)

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PC growth rate slowed to 16% in 3rd quarter; Dell led industry in gains; results are expected to stay strong in 1997

Article Abstract:

The PC industry's global growth rate slowed to nearly 16% in 3rd qtr 1996, but the industry is ready for robust performance in 1997, according to market researchers International Data (IDC) and Dataquest. IDC's 3rd qtr survey reveals that the industry's shipments increased 12% in the US and 16% globally, with Dell Computer, Compaq and IBM posting sharp gains. Apple, Packard Bell and NEC, the remaining top-five manufacturers, posted less profitable gains. Dataquest predicted global growth of 16.3% and US growth of 12.5% for the same quarter. Dataquest places Toshiba and NEC among the top-five computer manufacturers world-wide. Dataquest and IDC predict a 20% increase in US shipments in 4th qtr 1996. IDC predicts global growth of 16.6% and US growth of 13% in 1997. Both market-research firms credit Dell Computer with the most profitable 3rd qtr 1996 in the US.

Electronic computers, Microcomputers, Computer industry, Forecasts and trends, Market trend/market analysis, Growth, Corporate growth, Industry growth

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Seagate's board axes founder, an industry icon

Article Abstract:

Seagate Technology's board fires flamboyant CEO and modern computer disk-drive industry founder Alan Shugart. The slumping company names 40-year-old Pres and COO Stephen J. Luczo to succeed Shugart. The dismissal, which stunned Silicon Valley, followed Shugart's refusal to retire. Shugart, 67, was the leading force in elevating annual disk-drive storage capacity to approximately 60%. Shugart co-founded Seagate in 1979 but has occasionally pursued personal interests outside the industry. Luczo and Seagate director Lawrence Perlman, who is believed to have orchestrated the firing, disclosed no other specifics. Luczo, a Shugart protege who already led most company operations, also directed Seagate's software unit as well as acquisitions of smaller companies. A problem facing the 87,000-employee Seagate is its continued vertical integration.

Management, Officials and employees, Appointments, resignations and dismissals, Company executive, Computer executives, Seagate Technology L.L.C., Company Business Management, SEGT, Shugart, Alan, Luczo, Stephen J.

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