With Steve Jobs unveiling iCloud, the new online storage and synchronization service, the big question in my mind was, what happens to my MobileMe a/c? Despite the media calling it a “failed service,” it served my needs very well.

Here are snippets of relevant information taken from the email I received from the MobileMe Team:

Available this fall, iCloud is free for iOS 5 and OS X Lion users.
Yaay! That means I have to upgrade to OS X Lion, which I would have done anyway. A bargain for $29!

Your MobileMe subscription will be automatically extended through June 30, 2012, at no additional charge. After that date, MobileMe will no longer be available.
So, at least for another year, I don’t have to worry about MobileMe disappearing.

When iCloud becomes available this fall, we will provide more details and instructions on how to make the move. In the meantime, we encourage you to learn more about iCloud.
Can’t wait! If you are thrilled, give a hoot!

But wait, (after talking to a Apple guy), apparently iCloud will NOT support web page-hosting and sharing picture galleries, currently available to MobileMe subscribers. No word on any replacement. Also, iCloud will only provide 5GB of space. Considering the SD card in my camera is 8GB, how useful is this? I’d be willing to pay for extra storage.

And more: what does this mean for the storage industry? Starting from sales for external hard disks to the online storage services like Box.net and DropBox? Oh Well, you have to break eggs to make omelettes.