"The new 16GB chip combines eight 2GB NAND chips fabricated with Toshiba's cutting-edge 56nm process technology, along with a controller chip, in a standard small size package. The new embedded memory offers advantages that realize a versatile, easily applied solution: the largest capacity yet achieved in this product category will bring new capabilities to mobile consumer products" Source
What does this mean? Maybe a new Gigabeat featuring up to 16GB of Flash Memory. But most likely is that we'll see a new Zune sporting one of these new chips...
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