Apple has unveiled details on their new backup device which they have cleverly named "Time Capsule." The new models that will become available soon offer a storage capacity of either 2TB or 3TB.
In comparison to previous models, the new Time Capsule primarily improves features such as faster connection and backup speed, in addition to the bump in storage space.
The retiring Time Capsule was due for a refresh. $499 for 2TB is a bit hard to shallow in 2011 (or in2010, for that matter) even for the most devoted since 2TB external hard drives are on the retail market for around $80. Unfortunately the craziness continues with the new model as the 3TB model is priced at the same $499 price point although 3TB drives retail for just $150.
The unit still features 3 Gigabit Ethernet ports and a USB host for printer and hard drive sharing. It encrypts 802.11 a/b/g/n with WPA/WPA2 along with 40/128-bit WEP and backs up data to the massive 3TB hard drive through OS X's Time Machine.
You can get more information about the latest pricing information here.