Threatening to make both competing high-definition DVD systems, Blu-Ray and HD DVD, quickly obsolete, a holographic storage system that can store up to 300GB on a single disc is expected to hit the market by this time next year, Britain's New Scientist magazine is reporting in its current issue. The magazine noted that the technology behind it could eventually be developed to store up to 1.6 terabytes on a disk, the equivalent of 300 DVDs. Moreover, it noted, the system employs a laser light unit that allows information to be transferred in a single flash, thereby lowering production costs. The system is being developed jointly by InPhase Technologies and Hitachi.