Thinq has just confirmed the upcoming launch of a 3 TB drive with Seagate. When I was a kid, 1 GB was an almost inconceivable amount of data. All of my different games, text documents, and applications would have fit on a 1 GB drive with zounds of extra space. Now three freaking terabytes doesn't even seem that large.
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Many slightly-older PCs cannot handle drives that hold more than 2.1 TB. The original logical block addressing standard cannot assign capacities to sizes larger than 2.1 TB. Microsoft and IBM never anticipated personal computing growing in the way that it has. Needless to say, Seagate has a lot of problems to work out before this drive launches.
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If things go as planned, we'll see our first 3 TB drives by the end of this year.