![]() If in-home entertainment, especially digital and music entertainment, takes hold in the home, as many think it will, CEO Cannon says Maxtor will be a key player. 's iPod, or in TV set-top boxes like those from It's not hard to find them in handheld digital music players like Hard drives aren't just for PCs and server computers anymore. That could conceivably raise some of the same problems that caused the company such pain in the late 1980s. In a recent study, market research firm IDC forecast that the hard disk industry would ship 209 million units by the end of this year, and that Maxtor would account for about 35% of those, ahead of its nearest competitor, Seagate.īut now that it's topped the market for desktop PC hard drives, Maxtor now has to consider how to address the ever-wider market for devices beyond the PC. The loss included more than $78 million in expenses related to the Quantum deal and another smaller acquisition. In its most recent quarter, the company reported a $165.7 million loss on sales of more than $1 billion. Since then the stock has certainly seen its share of volatility, but in recent weeks, its price is up more than 60% from its 52-week low of $3.30 per share. That same year, debt-ravaged Hyundai took Maxtor public again in an attempt to raise cash, and now Hyundai's successor, Annual revenue is up about tenfold over the last four fiscal years, to $2.7 billion last year from $273 million in 1997.īy shifting its primary focus toward the market for desktop PC hard drives, Maxtor had become a major supplier to three major PC makers by 1998, just in time for a massive surge in PC sales. ![]() Now it leads the industry in desktop PC hard drive sales and is a major supplier to PC makers like In October 2000, Maxtor bought out the hard disk assets of Stepped in to acquire the company in two deals valued at a total of $365 million, taking it private. It had missed key product introductions and watched its stock price fall by more than 80% between 19. It languished well behind its many competitors, among them Having spread its business too thinly across too many subsectors, Maxtor had found itself excelling in none of them. "What had once been a successful company had really fallen on hard times," he says.
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