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With Zip Fading, Iomega Looks to Rev Things Up

Techstination feature for Thursday, September 22, 2005

With its Zip fading…Iomega looks to Rev things up. Bloomberg Boot Camp, a report on today's technology. These haven't been the best of times for the once high flying maker of Zip drives. They were the digital storage medium of choice for millions…55 million were sold in all…until CD burners and then DVD burners became cheap and popular. Iomega sells those drives…the problem is… so does everyone else. The company cut jobs last year…and is cutting some more. But chief executive Werner Heid says Iomega's removable hard drive technology…the Rev drive….is finding a niche….in the TV industry…

"Growth, at the end of the day, for any company is very dependent upon market opportunities. And if you really think of what we have been focusing ourselves on in the last few years, we actually see quite a few market opportunities that can actually drive growth for the company growing forward."

In addition to the Rev drive, Iomega is looking to the home network storage market…as consumers collect more digital photos, videos and music. It is also selling an MP3 player it calls Mixx. But…Heid says Iomega is just testing that market….and isn't expecting to derail market leader Apple…

"I'm not sure if the question is really a question of derailing Apple. Or is it really just saying can I have a piece of the pie as well."

With it's new iPod Nano…Apple doesn't seem too willing to share. Bloomberg Boot Camp, I'm Fred Fishkin.