Intel's Dash Down Memory Lane

It's No. 1 in "flash" chips, which stay on when the power is off

The memory-chip business is in the doldrums these days. Inventories are high, and prices are low. But there's one bright spot--a niche that's expected to grow by 50% this year. It's the market for so-called flash memories--chips that retain information even when the power is switched off. Another big surprise: The dominant player isn't one of the Asian giants that rule the memory market. It's Intel Corp.

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