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Non-Tech : Any info about Iomega (IOM)?
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To: Cogito who wrote (9497)10/20/1996 1:40:00 PM
From: HardMoney   of 58324
 
This came out after the close on fri....Dow Jones hasn't picked up
of course....Maybe a statement from IOMG monday.See for yourself..
...any opinions on the impact on IOMG price on Monday?

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ORADELL, N.J., Oct 18 (Reuter) - Sony Electronics, a U.S.

unit of Japan's Sony Corp, said it is offering a high-capacity data
backup drive system for home and small office computer users it
developed in conjunction with Iomega Corp <IOMG.O>.
The StorStation tape drive and storage media system use
Sony's QIC-WIDE technology and Iomega's two gigabyte tape
format.

Iomega introduced a drive and cartridge based on the same
two gigabyte tape format called the "Ditto 2GB" in September, a
Sony spokesman said.

In a statement, Sony Electronics said its StorStation is
capable of storing one gigabyte, or roughly one billion bytes
of data, of directly accessible data or two gigabytes of data
in compressed form.
Sony said the StorStation drive system will offer customers the
same 10 megabyte-per-minute transfer rate as Travan-1 drives developed
by Minnesota Mining & Manufacturing Co <MMM.N>. Sony also produces
Travan-1 type tape systems.

The spokesman said that with many hard drives on home personal
computers now sized from 1.6 gigabytes to two gigabytes,
the StorStation allows one-step back-up without requiring computer
users to split up their hard drive files.

He said the StorStation will be available in stores in the next
few weeks and be sold largely through major U.S. retailers such as CompUSA <CPU.N> and Staples Inc <SPLS.O>.

The backup data storage systems carry a suggest list price of
$199.95 for the drive and $19.99 for the individual QW2GB cartridge
tapes necessary to store data.

-- Eric Auchard, New York Newsdesk, 212-859-1736

18:35 10-18-96

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