Toshiba Corp. said Tuesday it has developed a new chip that features the world's fastest operating speed and highest density.

The Ferroelectric Random Access Memory, or FeRAM, device has a 64-megabit storage capacity and can read and write 200 megabytes per second. It is "the most advanced combination of performance and density yet achieved," the company said.

The chip was developed to have such a high performance level due to the adoption of burst mode for high-speed data transfers, it said. FeRAM shares flash memory's ability to retain data even when not powered, and combines it with the fast operating characteristics of DRAM.