If you need additional storage space soon, it’s better to invest now. According to an intercepted report from WD and Seagate, prices would skyrocket at any time.

According to analytics firm TrendForce, both Western Digital (WD) and Seagate have sent letters to customers warning of rising hard drive prices. WD writes in its letter that SSDs are also becoming more expensive.

“The recovery in demand continues across several segments of our business and our reduced production capacity is limiting our ability to meet the demand of all our customers and is resulting in longer delivery times,” said the statement from BS Teh, Executive Vice President and Chief Commercial Officer, signed letter at Seagate.

“Therefore, we will immediately implement price increases for new orders and for demands that exceed the previously promised quantities.”

Earlier this month, WD sent a letter, which Trendforce has seen. It said: “Given these circumstances, we will continue to implement price increases for flash and hard drive products this quarter, with some changes taking effect immediately,” said Scott Davis, senior vice president of WD.

The letters were aimed at trading partners, including PC manufacturers. The chances are good that higher prices will soon be visible at the checkout. There is no talk of hyperscalers for the time being.

The news didn’t come out of the blue. At the start of 2024, various parties warned that SSDs could become up to 50 percent more expensive later this year. Now it seems that hard drives are also being drawn into the price vortex.

Are you wondering when you need an SSD and when you need an HDD? Read our comprehensive guide here.