Boston, MA 06/09/2014 (wallstreetpr) – Products technologies, software, solutions and services provider Hewlett-Packard Company (NYSE:HPQ) and storage systems and data management solutions provider NetApp Inc. (NASDAQ:NTAP) have managed to increase their market share in the external disk storage systems globally during the first quarter. They could gain despite the overall weakness in the market that dragged down revenues.
Market Share Gain
While Hewlett-Packard Company (NYSE:HPQ) generated revenue of $498 million with a market share of 8.8% in the first quarter recording 40 basis points improvement in market share. NetApp achieved revenue of $854 million with a market share of 15.1% registering 30 basis points improvement in market share, according to a data published by International Data Corporation. However, both the company’s revenue slipped year-over-year by 0.7% and 2.8% respectively.
Market leader by virtue of revenue and market share, EMC Corporation (NYSE:EMC) witnessed a fall in revenue of 8.8% to $1.64 billion with a market share of 29.1% from $1.8 billion with a market share of 30.2% in the year-ago quarter.
However, the worst performer is International Business Machines Corp. (NYSE:IBM), as its revenue dropped 22.5% to $497 million with a market share of 8.8% from $642 million with a share of 10.8% in the previous year period.
Significantly, revenue generated by other category advanced 3.7% to $1.66 billion with a market share of 29.4% from $1.6 billion with a share of 26.9% in the earlier year quarter.
Factory revenues of external disk storage systems around the world dipped 5.2% in the first quarter due to a number of factors including 25% fall in high-end storage spending, economic uncertainty, and adoption of technologies for optimized storage, growth in public cloud offerings driving customers to address their needs on a short term and a micro basis, IDC said.
Total disk storage systems, including internal, also witnessed a drop of 6.9% during the same period to record revenue of $7.3 billion. If the latest quarter revenue is compared with the seasonally robust fourth quarter of 2013, it meant a fall of 17%.