The Memristor, a microscopic component that can "remember electrical states even when turned off. It is expected to be cheaper than 'flash storage'. It's cheaper too ! This is a groundbraking technology created by UC Berkeley researcher Leon Chua. It's been in the making for over 30 years and now Hewlett-Packard has built one. To describe it - the name implies the memristor can "remember" how much current has passed through it. It can also become a one-element circuit component with unique properties. Memristor is a candidate to replace today's flash memory. There is also research that suggest it could replace RAM chips as we know them, so that when you turn off your computer, it will remember what it was doing when you turn it back on. HP's goal is to offer them by 2012. It will be up to the business side to push products through the product life cycle and in most cases to "commercial reality".
Reference: PCWorld, author, Christopher Null