Channel partners have received a letter from SelectWD about this:
This new warranty policy will be effective for drives shipped from January 2nd, 2012. It is important that you take a moment to update your website(s) and collateral to reflect this change for effected drives shipped after January 1st, 2012.The letter goes on to say "In the near future we will be unveiling an extended warranty offering with special pricing." At this time, there's no explanation why WD is reducing its warranty term.
All drives shipped to distributors prior to Jan. 2nd 2012 will retain the current warranty terms. Because of existing inventory in the distribution channel there will be a short period of time when some drives with a 3-year warranty will be sold at the same time as drives with a 2-year warranty.
If you have any doubt about the warranty of a drive you purchased, you can go to support.wdc.com, select Warranty and RMA Services and proceed to the Warranty Check page.
So now, hard drive prices are very high across the board due to the Thailand flooding, which will be compounded by rubbish warranties that one can "buy back" the missing period by giving WD even more money. Does anyone sense a money grab here? It would be surprising if Seagate didn't follow WD's lead on warranties. SSDs are looking more attractive every day, aren’t they?
Source: The Register
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