8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 15, 2002

MAXTOR CORPORATION
(Exact name of registrant as specified in its charter)

Delaware	0-14016	77-0123732
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

500 McCarthy Boulevard
Milpitas, California 95035
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (408) 894-5000

(Former name or former address, if changed since last report)

TABLE OF CONTENTS

	Item 5. Other Events.
	Item 7. Financial Statements and Exhibits.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 99.1

Item 5. Other Events.

     On August 15, 2002, Maxtor Corporation announced that it is discontinuing the manufacturing and sales of its MaxAttach™ branded network attached storage (NAS) products.

     The press release dated August 15, 2002 is filed herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 7. Financial Statements and Exhibits.

     (c)  Exhibits

     The following Exhibits are filed as part of this report:

Exhibit No.	Description
99.1	Press release dated August 15, 2002.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MAXTOR CORPORATION
Date: August 19, 2002	By:	/s/ Glenn H. Stevens Glenn H. Stevens Senior Vice President, General Counsel, and Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated August 15, 2002.

EX-99.1

                                                                    EXHIBIT 99.1



CONTACT:
Media Relations                                           Investor Relations
Diana Cartwright                                          Jenifer Kirtland
Maxtor Corporation                                        Maxtor Corporation
408-894-5951                                              408-324-7056



                        MAXTOR CORPORATION EXITS NETWORK
                            ATTACHED STORAGE BUSINESS


MILPITAS, Calif., August 15, 2002 -- Maxtor Corporation (NYSE: MXO), a worldwide
leader in hard disk drives, today announced it is discontinuing the
manufacturing and sales of its MaxAttach(TM) branded network attached storage
(NAS) products. The company will work with current NAS customers for an orderly
wind down of the business, and it will continue to support end-users with
installed MaxAttach products under existing contracts.

"Since we entered the network attached storage business in the fall of 1999, the
growth rate of this market has fallen far short of expectations," said Mike
Cannon, president and CEO. "Over this same period, the NAS market has become
rapidly commoditized by the entrance of a number of global OEMs with their own
branded products. This has placed us in competition with some of our largest
hard disk drive customers. Exiting the NAS business will allow us to focus on
our core hard disk drive markets, further reduce expenses and accelerate
Maxtor's return to profitability."

Maxtor will take a projected charge in the third quarter of between $75 and $85
million for costs associated with exiting the NAS business.

ABOUT MAXTOR

Maxtor Corporation (www.maxtor.com) is one of the world's leading suppliers of
information storage solutions. The company has an expansive line of storage
products for desktop computers, high-performance Intel-based servers and
consumer electronics. Maxtor has a reputation as a proven market leader built by
consistently providing high-quality





products and service and support for its customers. Maxtor and its products can
be found at www.maxtor.com or by calling toll-free (800) 2-MAXTOR. Maxtor is
traded on the NYSE under the MXO symbol.

This release contains forward-looking statements concerning our profitability
and the accounting charges we expect to incur in connection with discontinuing
the network attached storage business. These statements are based on current
expectations and are subject to risks and uncertainties, including market demand
for the company's products, the ability to execute future production ramps and
product qualifications, actions of competitors, changes in product and customer
mix, the overall pricing environment, and the company's execution of the
discontinuation of the network attached storage business, as well as other risk
factors contained in the company's periodic reports filed with the SEC,
including the Company's Annual Report on Form 10-K for the fiscal year ended
December 29, 2001 and subsequently filed Quarterly Reports on Form 10-Q. Maxtor
is under no obligation to and expressly disclaims any responsibility to update
or alter its forward-looking statements whether as a result of new information
future events or otherwise.