HDD suppliers believe there's weak demand and so have lowered inventory levels to 10-15 days. But there's something else they have to worry about now.
A real problem is flooding in Thailand, the largest base for HDD manufacturing in the world and where much of an HDD's components are built too.
Even though demand is low, the supply might not be there anyway if disruptions continue in Thailand.
According to Digitimes' sources in Taiwan, the chain has felt the effects so seriously that supply won't be able to go back to normal in the next six weeks.