Taking the keynote stage at Macworld Expo on Tuesday, Apple CEO Steve Jobs wasted no time in introducing Time Machine, a new product designed as companion hardware to Mac OS X v10.5 "Leopard's" Time Capsule backup technology.

While Time Machine enables you to maintain persistent backups to a local hard disk drive, Time Capsule combines an 802.11n base station and a hard disk drive. The device is a "full AirPort Extreme base station" combined with "a server-grade hard drive," according to Jobs.

Initially, Apple will make Time Capsule in two versions: one with a 500GB hard disk drive, for £199, and a 1 terabyte model for £329 (including VAT). The new devices are expected to be released in February, and also integrate a USB connection to which a printer can be attached for remote printing.

Jobs also noted during the opening moments of his keynote speech that Leopard has been Apple's most successful Mac OS X release to date, racking up over 5 million unit sales in three months. Apple estimates that about 20 percent of its installed base has migrated to Leopard.

“Bring Time Capsule home, plug it in, click a few buttons on your Macs and voila - all the Macs in your house are being backed up automatically, every hour of every day,” said Steve Jobs, Apple’s CEO. “With Time Capsule and Time Machine, all your irreplaceable photos, movies and documents are automatically protected and incredibly easy to retrieve if they are ever lost.”