Today, Apple announced a new size of its Time Capsule, and it reduced its price on the 2TB version. The 2TB version, model no. MD032LL/A, costs $299, a $200 drop. The new 3TB version, model no. MD033LL/A, costs $499. Apple’s Time Capsule works as a wireless hard drive backup system. It doubles as a 802.11n WiFi base station with dual-band support.

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