Samsung Electronics said Tuesday it has developed the world's most powerful memory chip, which could help create a memory card capable of storing 80 DVD movies.

The company said in a statement it has developed the world's first 64-gigabit NAND flash memory product, which it called "a major leap forward" in flash storage. Samsung is the first company in the world to produce flash memory using 30-nano production technology, the company added.

Up to 16 of the chips could be combined to make a 128-gigabyte memory card that would be able to store 80 DVD movies or 32,000 MP3 music files, it said, adding that production would begin in 2009.

Samsung said the new product would create a new 20-billion dollar market until 2011 by offering fresh applications for various multimedia items such as mobile handsets, digital cameras and MP3 players.