iTWire - Seagate to pay US$300m fine for shipping hard drives to Huawei
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Thursday, 20 April 2023 09:32
Seagate to pay US$300m fine for shipping hard drives to Huawei Featured
By Sam Varghese
Storage vendor Seagate Technologies has agreed to pay a fine of US$300 million (A$447.3 million) to settle a charge brought against it by the US Department of Commerce of shipping hard drives valued at US$1.1 billion to Chinese telecommunications equipment vendor Huawei Technologies.
In a statement, Seagate said the fine would be paid in instalments of US$15 million over five years beginning on 31 October.
The charges, of violating American export regulations by shipping hard drives to Huawei, were raised by the Bureau of Industry and Security and were first reported in October last year.
The company was named in a report issued in October 2021 by Republican members of the US Senate Committee on Commerce, Science and Transportation.
Huawei was placed on the BIS Entity List in 2019, over unproven claims that it posed a danger to US national security. The sale of the drives took place between August 2020 and September 2021.
Seagate has now changed its stance, and agreed to settle the matter by paying the fine.
The two other main hard drive manufacturers, Toshiba and Western Digital, were found to be in compliance with the strictures put in place in 2019.
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