Comcast Corp. (Nasdaq: CMCSA) unveiled a new cable modem capable of download speeds of up to 150 megabits, or 25 times faster than current models, according to a report.

At a cable industry meeting in Las Vegas, Comcast CEO Brian Roberts demonstrated the device, according to the Associated Press. During the presentation, one 300 megabyte file was downloaded in a few seconds, while a regular modem was working through and estimated 16 minutes download of the same file.

He said it could be available within less than a couple years.

The cable industry is coming under increasing pressure from competitors, such as Verizon Communications Inc. (NYSE: VZ) is already starting to install fiber optic systems in selected cities which offer similar speeds.

The technology used for the new modem is called DOCSIS 3.0, and was developed by the cable industry’s non-profit research consortium, Cable Television Laboratories, Inc., or CableLabs. The research firm says download rates can reach up to 160 megabits or higher, and upload rates can reach 120 megabits or higher.

The higher data rates available through DOCSIS 3.0 technology are possible through a method called “channel bonding.” The specifications of the technology were made available for review and comment in early 2006 to companies developing products who signed non-disclosure agreements.