Toshiba plans to double HDD production capacity by fiscal year 2027; Seagate and Western Digital shares plunge.

According to a report by Nikkei, Japanese company Toshiba plans to double its hard disk drive (HDD) production capacity within the 2027 fiscal year. Western Digital and Seagate Technology saw significant declines at market open. At the time of writing, Seagate Technology is down 12.4% and Western Digital is down 11%. However, both companies have recorded year-to-date gains of 200% and 140% respectively. Japanese media reported that Toshiba plans to invest approximately 60 billion yen (380 million USD) to expand HDD production in the Philippines. This expansion marks Toshiba's first major investment in the HDD sector in several years. In terms of storage capacity, Toshiba currently holds a market share slightly above 10%, but its medium-term goal is to reach 30%.