Market research firm IDC released sales information for fourth quarter 2002 that shows that the overall storage industry is doing better than expected. For that quarter, overall sales for the storage market totaled $5.4 billion, a 12 percent increase over third quarter 2002. For all of 2002, the market experienced a 15 percent decline in revenue, which was better than the 21 percent drop that IDC forecast.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
IBM and Hewlett-Packard (HP) were tied with 25 percent each of the overall market in the fourth quarter. They were followed by EMC, with 11 percent of the market, then Dell, Hitachi, and Sun Microsystems, with roughly 5 percent each. John McArthur, IDC group vice president, said, "The fourth quarter's results were similar to what we have seen in the server market. We expect to see a return to more normal seasonal changes, as companies have already made their major adjustments to storage spending."