Seagate Technology Inc says it expects fierce competition in the world disk drive market to continue to cause further price erosion; it is expecting supply to catch up with demand this quarter and to be back to the normal price erosion at an average 4% to 6% each quarter; there has been severe competition and price erosion for for disk drives above 500Mb capacity, which is expected to continue: Seagate plans to to double annual revenue to $6,000m a year by 1999 from the sale of hardware, components and software; the firm has over $1,000m cash and marketable securities and has been looking for almost a year to acquire software technology companies to manufacture softwares.
