Most Seagate HDD come with a 5-yr warranty, but I guess their packaged storage solutions like USB external drives only come with a 1-yr warranty. That being said, this is still a great price for a very reliable drive. 5400rpm may seem slow, but this is for storage/backup and isn't running an OS. The slower speed, which is still very fast for USB 3.0 backups/restores, will keep the drive running cooler, extending the lifespan of this product. I have older Seagate USB external backup drives (500GB, 1TB, 2TB, etc.) over the years and have never had any problems.
This is a great bargain! My only hesitation is that I've had HDD's break, so I'm more inclined to look at SSD's. However, the price of HDD's is the great appeal. Which will win out: price or reliability? We'll have to wait and see!
Reliability? There are people who can't say the name "Seagate" without subsequently spitting on the floor. I count myself among them. There's a reason they're always the cheapest drive in every category.
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Thank you!