DOW JONES NEWSWIRES 
 

Intel Corp. (INTC) and Micron Technology Inc. (MU) have developed a new three-bit-per-cell NAND flash technology, which the companies called the industry's most efficient NAND product.

Intel's shares were recently up 1 cent at $18.77, while Micron's were up 2.4% at $6.79 in premarket trading.

Through their joint venture, the two companies have made the new 32-gigabit chip, which they say is the smallest and most cost-effective on the market with that amount of memory.

NAND chips are usually used in storage devices such as flash and USB drives. Intel said last month it was moving to the more advanced 34-nanometer manufacturing process for its NAND flash-based, solid-state-drive products, which would help lower prices for personal-computer and laptop makers who buy them because of the smaller size.

Intel and Micron said the chip will be in mass production starting in the fourth quarter.

Micron Vice President of Memory Brian Shirley said the companies "continue to move forward on further shrinks in NAND" and said they see three-bit-per-cell NAND as "an important piece of our roadmap."

-By Kerry Grace Benn, Dow Jones Newswires; 212-416-2353; kerry.benn@dowjones.com