In a sign of the times, Seagate (STX +0.8%) is discontinuing production of high-performance...

|About: Seagate Technology (STX)|By:, SA News Editor

In a sign of the times, Seagate (STX +0.8%) is discontinuing production of high-performance (7200 RPM) 2.5" hard drives, as the MacBook Pro, Intel ultrabooks, and other high-end notebook platforms embrace SSDs. The announcement comes a month after IHS predicted hard drive industry sales will drop 12% this year thanks to weak PC demand and SSD encroachment. Separately, Seagate says it will create a $180M R&D facility at Solyndra's old factory, which it bought last year, to develop cutting-edge drives.