Panasonic is to cooperate with UMC to develop a new kind of power-saving nonvolatile memory, called ReRAM (Resistive Random Access Memory), reported Nikkei on February 7. They plan to manufacture ReRAM chips using a 40-nanometer fabrication process that boasts to consume only one-seventh of the power of today's NAND flash memory. Under the tie-up, Panasonic will be responsible for designing ReRAM, while UMC will be in charge of the production. It is projected that samples will be shipped in 2018 and chips will begin mass production in 2019, with an aim to achieve yearly sales of 5 billion yen (USD 44 million) according to the same source.