



In 1956, IBM sold its first magnetic disk system, RAMAC (Random Access Method of Accounting and Control). It used 50 24-inch metal disks, with 100 tracks per side. It could store 5 megabytes of data and cost $10,000 per megabyte. (As of 2006, magnetic storage, in the form of hard disks, costs less than one tenth of a cent per megabyte).
The IBM 1401, the first member of the IBM 1400 series, was a variable wordlength decimal computer that was announced by IBM on October 5, 1959. It was withdrawn on February 8, 1971.
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