Sony and Panasonic are teaming up to develop a recordable disc that can store up to 300GB of data.
The companies announced today that they will work together to create a new standard for an optical disc and are aiming to have a product ready by the end of 2015.
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In comparison, today's Blu-ray discs can store 25GB on a single layer and 50GB on a dual layer.
Despite fewer computers packing an optical drive and USB sticks becoming increasingly popular, the announcement indicates that the Japanese technology giants believe that there is still a place in the market for discs.
The discs will be targeted at professional users that need to archive huge amounts of data for long-term storage. However, they will also appeal to consumers that are looking to store HD video and other forms of content-heavy media.
Pointing to an example of businesses making use of the technology, Sony said that 300GB discs could be used by the video production industry, including motion picture houses and broadcasters. It also said that cloud-based data centres could also tap into the high-capacity discs to retain large quantities of data.
"Optical discs have excellent properties to protect them against the environment, such as dust-resistance and water-resistance, and can also withstand changes in temperature and humidity when stored," said Sony.
"They also allow inter-generational compatibility between different formats, ensuring that data can continue to be read even as formats evolve. This makes them a robust medium for long-term storage of content."