Matsushita Electric Industrial Co. said Monday it has developed what it claims to be the fastest noncontact data-reading chip, an achievement that could boost distribution of wireless identification applications.

The chip, based on nonvolatile type memory technology called ferroelectric random-access memory technology, can handle 120 tags per second, triple that of the current industry maximum, Matsushita said in a release.

The data processing rate will also jump to 53 kilobits per second from 26.5 kilobits per second.

Matsushita said it plans to start sample shipments at 120 yen per unit in October.

Data on the chip can be rewritten more than 100 million times, instead of the current 100,000 times.

Matsushita also said the chip offers low power consumption, one-eighth that of current Matsushita products.