USB 3.0 has transmission speeds of up to 5 Gbit/s, which is 10 times faster than USB2.0 (480 Mbit/s). USB 3.0 reduces the time required for data transmission, reduces power consumption, and is backward compatible with USB 2.0. The USB 3.0 Promoter Group announced on 17 November 2008 that the specification of version 3.0 had been completed and had made the transition to the USB Implementers Forum (USBIF) The managing body of USB specifications. This move effectively opened the specification to hardware developers for implementation in future products. A new feature is the "SuperSpeed" bus, which provides a fourth transfer mode at 5.0 Gbit/s. The raw throughput is 4 Gbit/s, and the specification considers it reasonable to achieve 3.2 Gbit/s (0.4 GB/s or 400 MB/s).