Got enough storage on your harddrive? I/O Magic don't think you have. The company has today announced the launch of an external hard drive with 1000GB of storage space.

The new TeraBank connects to your computer via a USB2 cable and comes in a black and silver enclosure

With a suggested retail price of $399.99 (£200), the drive comes with a power adapter and a USB2 cable to connect the high-speed USB2 port of a computer for a fast maximum transfer rate of up to 480MB per second; the TeraBank 1000GB also works with USB1.1 ports but at slower speeds.

I/OMagic's TeraBank 1000GB 3.5" external hard disk drive has a 1-year warranty and it supports Windows Vista/XP/2000/ME.