Boston, MA 06/17/2014 (wallstreetpr) – EMC Corporation (NYSE:EMC) faces increased competition from recent startups as the data storage equipment technology continues to expand.
Competition From Startups
Analysts have been marking the increasing competition that the industry’s market share leader EMC Corporation (NYSE:EMC) is facing as new startups continue to progress rapidly advancing in technology breakthroughs. One such company that is standing up against EMC is Pure Storage, a Mountain View, California based manufacturer of data storage devices. The company employs flash technology instead of the usual hard drivers, such as EMC, offering companies huge spaces for their vast data and business records.
The five year old startup has already lured some of the big cloud centric human resources companies which include names such as LinkedIn Corp (NYSE:LNKD) and Workday Inc (NYSE:WDAY). The company’s Chief Executive Officer, Scott Dietzen explained that flash memory uses less power and is much faster than traditional storage disks, but are more expensive. He further said that Pure Storage has discovered ways to keep the related costs reduced so as to bring them in sync with disk storage prices. The company reported a revenue growth of 700% last year, with a 50% surge every quarter. Analysts value the company at $3 billion.
Other participants in this war include A3Cube, Natanix, Maxta, Tegile Systems and Skyera that have been competing against established names like EMC and NetApp Inc. (NASDAQ:NTAP), as reported by Tech Trader Daily.
2013 Global Supplier Award
Eli Lilly and Co (NYSE:LLY) EMC awarded EMC Corporation (NYSE:EMC) a 2013 Global Supplier Award on account of the company’s great results, strong leadership and accelerated innovation. The two have been working together with EMC focusing on integration, innovation and cost reduction to ensure that projects satisfy Lilly’s business objectives.
EMC Corporation (NYSE:EMC) Information Infrastructure’s Sales and Customer Operations’ President, Bill Scannell, said that the company’s tie- up with Lilly manages a wide range of IT operations and the award underlines the outcome of a perfectly collaborative partnership.