EMC’s second-quarter net income fell 43% year-over-year, and revenue fell 11%, the this week. Seagate Technology on Tuesday, meanwhile, of $81 million in its most recent quarter.

A year ago, the storage market in a down economy, with analysts saying the pressing need for disk space was overriding IT spending concerns. But times have changed for the storage market, just as they have for the rest of the IT industry.

“When we went into the year, we probably couldn’t have and wouldn’t have predicted the first half to be as negative as it has been,” IDC analyst Benjamin Woo says.

IDC reported in June that worldwide factory revenue for disk storage systems has dropped 18.2% in a year, even though the total capacity of shipped disk storage systems grew 14.8%.