Tech Report reports that Seagate has announced the Momentus 5400.3, a new 2.5" mobile hard drive based on perpendicular recording technology. The drive has 160gb in space, up from the 120gb that most mobile HDDs are limited to. By the end of the year Seagate expects all its new hard drives, desktop and mobile ones, to be based on perpendicular tech (insert obligatory Hitachi flash animation link).