According to Seagate, its latest 1TB platter 3.5" drives have shrunk read/write heads as small as they can physically go. Similarly, tracks on those platters are placed as close together as physically possible. Pushing areal density is important to increase overall capacities (no one wants to see more platters per drive), but if we're at physical limits today then it's time for some architectural changes to push capacities going forward.
Seagate's solution is something it calls Shingled Magneting Recording (SMR).
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5tb HDD on the Horizon?
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