SanDisk CEO: Huge Growth in Flash Memory Chips Ahead

Flash memory chips, an essential component of smart phones and other mobile devices, will have one billion new users over the next decade, SanDisk CEO Eli Harari told CNBC Monday.

SanDisk is a leading producer of the component, which is used by major mobile device makers, including Apple.

“We think the next decade is going to be phenomenal, because of the mobile Internet, and we see one billion new consumers worldwide for products that use flash memory. Flash is everywhere,” said Harari, who is stepping down from the company. SanDisk was founded in 1988 and became publicly listed 15 years ago.

“The mobile phone is now becoming the true convergent device,” said Harari. “Cameras are converging into it. It started with cameras and music, it’s now moving to video applications, video games, communications, video games, and they all need flash. No disk drive can go into any device like that.”

Harari said that SanDisk is now working on a 3-D memory chip.

SanDisk was founded in 1988, not 15 years ago, which was reported in an earlier version of this story.