According to The New York Times' report, the data-storage technology in the early developmental stages at the General Electric Co.'s research division would enable the storage of 100 regular DVDs - or 500 GB data - on a single disc.

The paper says that the proposed technology makes use of 'holographic' storage, and GE is in the process of working out ways to produce this singular technology on at cost-effective prices.

Elaborating on the technology, the NY Times said: "The data is encoded in light patterns that are stored in light-sensitive material. The holograms act like microscopic mirrors that refract light patterns when a laser shines on them, and so each hologram's recorded data can then be retrieved and deciphered."

Brian Lawrence, the GE Scientist who is heading the research program in Niskayuna, New York, said that the commercial production of the storage disc will bring about a sharp fall in the storage cost per GB; and facilitate the storage of an entire high-definition movie collection on one disc. The company expects the early users of the new technology to be companies looking to substitute magnetic-tape data archives.

GE will license the technology to other companies, thereby paving way for the production of the disc and players. As such, products based on the technology to be available in 2012.