What it does
The company states that it designs and manufactures hard disk drives (HDDs), storage systems and related solutions. It serves two end markets: Data Center, for cloud and enterprise infrastructure supporting AI-enabled computing and other data-intensive workloads; and Edge IoT, for industrial and consumer settings where data is processed and stored near its source. Its Data Center portfolio includes HDDs of up to 44TB and storage systems of up to 3.5PB. Its Edge IoT products range from 1TB to 32TB.
Source: Seagate Technology Holdings PLC Form 10-K for fiscal 2026, Item 1 — sec.gov
How it makes money
Seagate makes revenue by selling its Data Center and Edge IoT storage portfolios through direct and indirect channels. The company states that Data Center products are sold mainly to cloud service providers, OEMs, distributors and enterprise organizations. Edge IoT products are sold mainly through OEMs, distributors, retailers and third-party resellers. Major customers, including OEMs and hyperscale cloud operators, may buy under master purchase agreements, while deliveries are scheduled through purchase orders and demand forecasts. The segment table below provides the filing’s reportable-segment financial information.
Source: Seagate Technology Holdings PLC Form 10-K for fiscal 2026, Item 1 — sec.gov
Customers and geography
The filing describes customers across cloud, enterprise, industrial, commercial and consumer markets. It states that the vast majority of the business comes from Data Center markets. In FY2026, United States revenue was $6.1 billion, or 50.4% of revenue; Singapore revenue was $4.9 billion, or 40.0%; and revenue from The Netherlands was $1.2 billion, or 9.55%. The company states that cloud-customer demand can vary with hyperscale infrastructure investment timing, and enterprise demand is influenced by IT modernization and data-center refresh cycles.
| Region | Revenue, FY2026 | Share | Change on the year |
|---|---|---|---|
| United States | $6.1 billion | 50.4% | 39.4% |
| Singapore | $4.9 billion | 40.0% | 29.8% |
| The Netherlands | $1.2 billion | 9.55% | 26.1% |
| Other | $4.0 million | 0.03% | 0.00% |
Source: Seagate Technology Holdings PLC Form 10-K for fiscal 2026, Item 1 — sec.gov
Competition
The filing names Western Digital Corporation and Toshiba Electronics Devices & Storage Corporation as global HDD-manufacturing competitors. It also identifies NAND flash suppliers that provide or enable alternative storage technologies, as well as storage-systems and solutions providers, without naming them. The company states that customers assess offerings based on capacity, performance, reliability, quality, total cost of ownership, energy efficiency, supply continuity, security features, technical support and the ability to meet changing workload requirements. The filing says the importance of these factors differs by customer and application.
Source: Seagate Technology Holdings PLC Form 10-K for fiscal 2026, Item 1 — sec.gov
Key risks
- Ability to successfully introduce and achieve market acceptance of new products on a timely basis.
- Shortages, delays or cost increases for critical components, equipment or raw materials, including reliance on single-source suppliers.
- Changes in the macroeconomic environment.
- Laws, regulations and governmental policies that may cause significant expense or adversely affect results.
- Inability to protect intellectual property rights.
- Loss of, or inability to attract, retain and motivate key executive officers and employees.
Source: Seagate Technology Holdings PLC Form 10-K for fiscal 2026, Item 1A — sec.gov
People and operations
As of July 3, 2026, the company employed approximately 30,000 full-time employees worldwide, including approximately 25,000 in Asia. It performs component manufacturing, subassembly, final test and assembly in China, Malaysia, Northern Ireland, Singapore, Thailand and the United States. The company states that certain components and raw materials are available from a limited number of suppliers. It also says Edge IoT, including Consumer Solutions, has historically had higher sales in the first half of its fiscal year, mainly reflecting back-to-school and year-end holiday purchasing.
Source: Seagate Technology Holdings PLC Form 10-K for fiscal 2026, Item 1 — sec.gov