REUTERS - Toshiba Corp (6502.T) is planning to increase production of its hard-disk drives by 35 percent by the end of fiscal 2014 to tap into growing demand from data centers and PC makers, the Nikkei reported.
Toshiba will invest between 15 billion yen and 18 billion yen over the next three years for the expansion at three plants in Philippines and China, the business daily said.
Greater use of cloud computing and media downloads by consumers has led to higher demand for data storage devices, the Japanese daily said.
The company’s monthly hard-drive output capacity, which now stands at 11 million units, is expected to rise to 12 million by the end of fiscal 2012 and 15 million by the end of fiscal 2014, the daily said.
Toshiba expects combined sales of its hard drives and solid-state drives to touch 850 billion yen in fiscal 2015 from about 400 billion yen in fiscal 2011, the Nikkei reported.
Reporting By Pallavi Ail in Bangalore; Editing by Sreejiraj Eluvangal