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In page Floppy disk:

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The family of 8-inch disks and drives increased over time and later versions could store up to 1.2 MB;[6] many microcomputer applications did not need that much capacity on one disk, so a smaller size disk with lower-cost media and drives was feasible. The 5¼-inch drive succeeded the 8-inch size in many applications, and developed to about the same storage capacity as the original 8-inch size, using higher-density media and recording techniques.[citation needed]