The approval of Western Digital Storage Technologies (Thailand) Company Limited’s 23.5 billion baht ($693 million) project, which aims to increase hard disc drive production in the nation, was announced by Thailand’s Board of Investment (BOI) on Monday.
With its headquarters located in San Jose, California, Western Digital Corporation is an American manufacturer of computer drives and data storage solutions.
Cloud storage services, data centre systems, and data storage devices are among the data technology solutions that the company designs, produces, and markets.
Western Digital says that with its HDD and Flash product lines, which are supported by developments in memory technology, it delivers ground-breaking inventions and potent data storage solutions that help people across the world realise their dreams.
According to the BOI, the investment would strengthen the Thai economy by generating an additional 10,000 employment and 200 billion baht in exports annually.
Approximately 80% of the world’s hard discs are produced in Thailand, where Western Digital’s Thai factory presently employs 28,000 people, according to the BOI.
Newsng gathered that in the fiscal year 2024, Western Digital brought in $5.378 billion from the cloud, $4.647 billion from clients, and $2.978 billion from consumers.
During the fiscal year 2024, Western Digital brought in $6.687 billion from Flash and $6.316 billion from HDD.
The Thai economy is anticipated to benefit greatly from Western Digital’s large increase in investment. More than 10,000 jobs for Thai citizens will be created, exports are expected to rise by more than 200 billion baht a year, and connected firms will benefit.
A total of more than 81,000 million baht worth of domestic raw materials, including printed circuit board assemblies (PCBAs), metal and plastic components, power supply units, and others, would be used in the project each year.
More than 45% of the raw material value is made up of this.
We earlier reported that Honour, a Chinese smartphone maker, has secured an undisclosed investment from China Mobile’s parent firm.
