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Seagate Technology (STX) (25.86 -0.15)
HITACHI LTD. and SEAGATE TECHNOLOGY announced on Sunday massive new computer storage systems to accommodate growing consumer demand for high-definition movies as well as photos and music. Hitachi Global Storage Technologies Inc., the consumer data backup unit of the Japanese electronics maker, unveiled a hard disk drive with a record-breaking 1 terabyte, or 1,000 gigabytes, of capacity. That is twice the 500-gigabyte capacity in most models on the market and pushes the PC into the terabyte era, thanks to high-definition movies that take up much more space when downloaded than do conventional formats. High-definition video requires four to five times more storage capacity than standard-definition video, Hitachi said. A terabyte drive allows viewers to store and retrieve nearly 250 hours of high-definition programming. Hitachi plans to start selling the drive in Q1 for a suggested retail price of $399, which compares with $250 to $299 for most 500-gigabyte devices. Seagate announced on Sunday a host of new storage systems that allow users to back up data online as well as on drives attached to home computers. The largest desktop drive holds 750 gigabytes of data. (Reuters 08:46 PM ET 01/07/2007 More...)

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