Interesting tidbit of info released this morning...
10 or 11 cents? Hmmm... Perhaps, but not too likely...
Monday November 3 8:15 AM EST
Company Press Release
SyQuest Unveils First One Gigabyte Removable Cartridge Hard Drive
at Mass Market Price
FREMONT, Calif.--(BUSINESS WIRE)--Nov. 3, 1997--
Technology Leader in High Performance Category Reshapes
Market; Offers Professional-Grade Drive for $199,
Cartridge for $33
In a move designed to open up the high performance removable cartridge category to every PC customer, SyQuest
Technology, Inc. (NASDAQ:SYQT) today unveiled the SparQ product, a one gigabyte system that combines the speed
of a fixed hard disk with the flexibility of a removable cartridge and sells at a low mass-market price.
At a manufacturer's suggested retail price (MSRP) of U.S. $199 for the SparQ drive and $99 for a 3-pack of SparQ
cartridges, the easy-to-use product lifts SyQuest -- the inventor of high-performance removable cartridge technology --
to the position of low cost leader in this category. Single cartridges, each of which hold 1 GB of customer ideas and
creations, are $39 each.
''The SparQ product signals a turning point for the removable storage industry,'' said Gary Marks, SyQuest executive
vice president of marketing. ''Today's informed customers are looking for a great price, proven reliability, high capacity,
high performance and total ease of use in a product that houses their creative outputs. The SparQ solution delivers on all
these fronts.''
The SparQ product's low mass-market price makes it an ideal ''second hard drive,'' providing a flexible and
easy-to-install alternative to upgrading a fixed hard drive.
The SparQ product's 1GB capacity makes it a smart choice for small or home office professionals, families, business
travelers, internet uses, PC gamers and for other users who require high performance and flexibility for advanced
applications. Pocket-sized cartridges make it easy for people to carry their ideas and creations with them on the road.
''SyQuest is right on target with SparQ,'' said Larry Mondry, executive vice president of merchandising at CompUSA.
''We believe that the aggressive pricing of both the drive and cartridges will help promote their position in an already
popular category.''
Said Victoria Cotten, senior vice president of purchasing, Ingram Micro, ''SyQuest has recognized the changing needs of
today's removable storage user. SparQ's capacity and performance address the requirements of consumers, corporate
users and integrators. Customers should be pleased with the price points of both the drive and the media.''
Based on 15 years' research and development experience, the SparQ product is the only 1GB solution that owns the
reliability advantage of being designed and built by the company that invented the high performance removable cartridge
technology.
''The low entry price point of the SparQ has the potential to expand the market for this product category,'' said
Crawford del Prete, vice president and storage analyst for International Data Corp. ''SyQuest is introducing a product
that could significantly transform what has been a niche market.''
The SparQ product is the only removable cartridge solution that offers four gigabytes of storage for under $300,
matching current fixed hard drive offerings. At a cartridge cost of approximately three cents per megabyte when
purchased in a three-pack, the SparQ product makes an attractive hard drive upgrade solution.
''End users and resellers are ready for the next step in removable storage,'' said Michael Schwab, director of purchasing,
D&H Distributing. ''The introduction of SparQ by SyQuest is timed perfectly to meet the growing storage needs of the
consumer market. We believe the response to SparQ will be tremendous.''
The SparQ drive is available in external parallel port and internal EIDE configurations for easy connection to any PC,
anywhere.
''We've listened to our customers' needs and are proud to be the first to deliver the professional class of product with the
simplicity they have been asking for, at the right price,'' said SyQuest President and CEO Ed Harper. ''This is the most
exciting product this company has ever offered.''
The SparQ cartridge features new self-installing drivers and utilities, plus hundreds of megabytes of bonus software for
work and play, including titles like: SegaSoft's HEAT.NET, an interactive gaming network with free membership and
additional games; McAfee WebScan, which detects web viruses before they are downloaded; Serif's Draw Plus 3.0
complete with SparQ cartridge label template; WebVCR, an off-line browser; SpryNet, a 30-day trial Internet service;
Howdy, a multimedia postcard maker; and NovaDisk SE, providing backup and compression utilities.
Starting in November, the SparQ product will be available through national retail chains, including Best Buy, CompUSA,
Computer City, Egghead, Fry's and Micro Center as well as VARs, commercial distributors and mail order outlets.
About SyQuest
Based in Fremont, Calif., SyQuest Technology, Inc. invented the high performance cartridge category. Since 1982, the
company has shipped more than 16 million cartridges that people use to expand their ideas and creations. SyQuest
(SYQT) is publicly traded on the NASDAQ's National Market System. URL: syquest.com .
Note to editors: This news release contains forward-looking statements that involve risks and uncertainties, including
competition in the marketplace for the company's products, and other risks detailed from time to time in the SEC reports
filed by SyQuest including its most recent reports on Forms 8K, 10K and 10Q.
SyQuest is a registered trademark and the SyQuest logo and SparQ are trademarks of SyQuest Technology, Inc. All
other brands or trade names are the property of their respective companies.
Contact:
SyQuest Technology, Inc.
Amy Reardon, 510/226-5386
or
The Bohle Company
Laura Kraft/Kim Uberti, 310/785-0515, ext. 212/215 |
