With a simply amazing 120GB per platter, Toshiba announced the new MK2421GAH 1.8” 240GB hard drive that is targeted for consumer devices for the holiday season.

Toshiba continues to invest heavily into the development of the 1.8in hard drives, which seems to continue pay dividends for them. With the highest areal density at 344 gigabits-per-square inch using PMR technology, this 4,200 RPM drive using a parallel ATA interface pushes the storage capacity to the limit.

Toshiba expects to begin shipping the drive soon and we expect to see it find its way into a variety of consumer electronics devices this holiday season. After Apple’s announcement of it dropping the 80GB and 160GB iPod Classic models today, we suspect that Apple will be launching a new 240GB iPod Classic in the near feature that will make use of the new drive.

In the mean time we hear whispers that Apple is first in line for this new drive in the 120GB single platter version to be used in the new 120GB version of the iPod Classic that was just announced.