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The company dethroned IBM, which used to dominate both the computer and the storage markets.
Lithium-ion batteries are winning the race so far in the electric car and grid energy storage markets.
Morgan Stanley also expects it to continue to see gains in the PC, server and storage markets.
Intel announced Monday a joint venture with Micron Technology to manufacture NAND flash memory for the consumer electronics, handheld devices and removable storage markets.
According to JM, the reorganization enhances its ability 'to serve increasingly global needs' in the composites, filtration and energy storage markets.
It is expected to significantly accelerate Imation's growth in the small and medium-sized business (SMB) and distributed enterprise (SME) storage markets.
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The US energy storage market is growing particularly fast, and batteries are the star players.
"We have no intention to enter into the broader storage market," he said in an interview.
The EMC Corporation, for instance, is using I.B.M.-made disk drives to battle I.B.M. for the data storage market.
If these prove robust enough to commercialise, they will be strong competitors in the grid-scale storage market.
At the same time, the company experienced a softening in the broader storage market -- a trend that has hurt other data storage companies in recent weeks.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com