Samsung Semiconductor, the part of the company that makes the various bits and bobs that are essential to making your smartphone actually work, has just announced that they’ve begun producing 10 nanometer 64 GB storage chips. They’re insanely fast, capable of hitting 260 megabytes per second read speeds and 50 megabytes per second write speeds. Best of all, since these chips use ultra tiny 10 nanometer transistors, they’re 20% smaller than chips from the previous generation.

Now for the important question: When are these chips going to end up in a smartphone sitting on a shelf at your local electronics store? That wasn’t specified, but considering these things started rolling off the factory lines “late last month”, it’s likely going to take at least a quarter or two until they get put into a retail device. Best case scenario, the Samsung Galaxy S IV will use this stuff. Worst case scenario, it’ll be in the Galaxy Note III. This is all speculation by the way.

What about sizes smaller than 64 GB? Don’t worry, Samsung’s got your back. Smartphones and tablets typically stack memory chips on top of each other in order to save space on the motherboard. The smallest 10 nanometer part Samsung is producing can hold 64 gigabits, which is 8 gigabytes. Considering how many people were disappointed by the fact that the Nexus 4 shipped with only 8 GB or 16 GB of storage, there’s a strong possibility that the Nexus of 2013 will come in 16 GB and 32 GB varieties.

Why do we even need on-board storage to be this fast? Because no one likes to wait during file transfers. That and what happens when every high end smartphone ships with a 1080p screens? All the elements that a developer uses to make their app is going to have to be high resolution, which means more storage is going to be needed, and said storage has to be lightening quick, because again, no one likes lag.