The struggling hard disk drive unit of Hitachi Ltd will turn profitable in the October-December quarter and show a marked improvement next year, the president of Japan's largest electronics conglomerate said.
The performance of Hitachi Global Storage Technologies (HGST), the world's second-largest disk drive maker after Seagate Technology HDD Holdings, is closely watched by investors as Hitachi targets hard drives as one of its its core businesses.
"It's not as if the market has disappeared. The hard drive market is growing. The problems at HGST are internal ones," Etsuhiko Shoyama, who is also the chief executive of Hitachi, told Reuters on the sidelines of a business forum on July 22.