IBM and TDK are planning a joint R&D program which will result in high-density and high-capacity MRAM circuits which can be used as regular memory or it can be integrated into other chips, IBM claims.

The project will take four years to finish, but the results sound like it's worth it.

MRAM is described as technology different from Flash memory, as it would enable for unlimited reads and writes. It will also use less power and it will be ideal for cellphones, handhelds and industrial control applications.

More here.