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Iomega Struggles... Pushes Peerless

Techstination feature for Wednesday, August 15, 2001

A pioneer in removable storage keeps plugging away. Bloomberg Boot Camp, a report on today's technology. Iomega, like many other tech companies, has been going through tough times... .as sales of its aging Zip and Jaz drive lines dwindle. It now has a version of its Zip drive on the market for just 69 dollars. And it has a new, higher capacity solution on the market called Peerless. Product general manager Dave Hubbard... says it's a hard drive in a cartridge...

"We are shipping capacities of ten and twenty gigabytes and what this brings to consumers is a variety of things. You can take your work home with you for example, from a USB computer at your office to a firewire computer at home. You can save tons of MP3 files so if you wanted to listen to music at the same time, you can put photographs, you can put iMovies on there, anything that is digital data on this"

The twenty gigabyte bundle sells for about 400 dollars. When we checked online... Iomega had it listed as being out of stock. Iomega's vision is to allow consumers to be able to plug Peerless cartridges into cars and digital video recorders as well... .

"And that's really the whole point of Peerless as a product. There is a convergence going on between computing and non-computing digital data. Whether it be audio, video, text or graphics, it's all coming together. And you don't really have a product that spans that whole spectrum, until now. Peerless does that."

Iomega's problem is to convince consumers of the value... at a time when rival Maxtor has announced a 40 gigabyte high speed USB drive... for under two hundred dollars. Bloomberg Boot Camp, I'm Fred Fishkin.