Part I, Item 1A of our 2023 Annual Report on Form 10-K, in Part II, Item 1A of our Q1 Quarterly Report on Form 10-Q
and any of those made in our other reports filed with the Securities and Exchange Commission, including under Risk Factors in Item 1A of subsequent Annual Reports on Form 10-K and Quarterly Reports
on Form 10-Q that may from time to time amend, supplement or supersede the risks and uncertainties disclosed in our 2023 Annual Report on Form 10-K and our Q1 Quarterly
Report on Form 10-Q. You are cautioned not to place undue reliance on the forward-looking statements included in this prospectus, which speak only as of the date of this document. We do not intend, and
undertake no obligation, to update or revise these forward-looking statements to reflect new information or events after the date of this document or to reflect the occurrence of unanticipated events, except as required by law.
WESTERN DIGITAL CORPORATION
Business Overview
Western Digital
Corporation is a leading developer, manufacturer, and provider of data storage devices based on both flash-based products (Flash) and hard disk drives (HDD) technologies. On October 30, 2023, we announced a potential
separation of our Flash Business (as defined below). See The Separation below.
With dedicated business units driving
advancements in storage technologies, our broad and ever-expanding portfolio delivers powerful Flash and HDD storage solutions for everyone from students, gamers, and home offices, to the largest enterprises and public clouds to capture, preserve,
access, and transform an ever-increasing diversity of data. Our broad portfolio of technology and products in Flash and HDD address our multiple end markets of Cloud, Client and Consumer.
Cloud is comprised primarily of products for public or private cloud environments and enterprise customers. Through the Client end market, we
provide our original equipment manufacturer and channel customers a broad array of high-performance flash and hard drive solutions across personal computer, mobile, gaming, automotive, virtual reality headsets,
at-home entertainment, and industrial spaces. The Consumer end market is highlighted by our broad range of retail and other end-user products, which capitalize on the
strength of our product brand recognition and vast points of presence around the world.
Founded in 1970 in Santa Ana, California, Western
Digital is now a Standard & Poors 500 company headquartered in San Jose, California. We have one of the technology industrys most valuable patent portfolios with approximately 13,000 active patents worldwide. We have a rich
heritage of innovation and operational excellence, a wide range of intellectual property assets, broad research and development capabilities, and large-scale, efficient manufacturing supply chains. The strong growth in the amount, value, and use of
data continues, creating a global need for larger, faster and more capable storage solutions.
We are a customer-focused organization that
has developed deep relationships with industry leaders to continue to deliver innovative solutions to help users capture, store and transform data across a boundless range of applications. With much of the worlds data stored on Western Digital
products, our innovation powers the global technology ecosystem from consumer devices to the edge to the heart of the cloud. We enable cloud, Internet, and social media infrastructure players to build more powerful, cost effective and efficient data
centers. We help original equipment manufacturers address storage opportunities and solutions to capture and transform data in a myriad of devices and edge technologies. We have also built strong consumer brands with tools to manage vast libraries
of personal content and to push the limits of what is possible for storage. At Western Digital, we continue to transform ourselves to address the growth in data by providing what we believe to be the broadest range of storage technologies in the
industry with a comprehensive product portfolio and global reach.
We operate in the data storage industry. The ability to access, store
and share data from anywhere on any device is increasingly important to our customers and end users. From the intelligent edge to the cloud, data
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