"We're planning to put a replacement chip (called Memristor) on the market to go up against flash within a year and a half," HP senior fellow . "We also intend to have an SSD replacement available in a year and a half."

"Flash is a done deal," Williams was quoted as saying, "now we're going after DRAM, and we think we can do two orders of magnitude improvement in terms of switching energy per bit."

"We're running hundreds of wafers through the fab," he continued. "We're way ahead of where we thought we would be at this moment in time."

a deal with S. Korean chip maker Hynix to produce a next-generation non-volatile memory product.

Memristor, short for memory resistor, is basically a resistor with memory. Earlier this year, could also perform logic.