Samsung recently announced a 16GB NAND flash memory at a press conference in Seoul, South Korea. The high capacity flash memory was made possible by using advanced multi-level cell technology based on the 50 nanometer process, a first for the industry. On average, NAND parts are less expensive to produce than NOR, another type of flash memory. Combined, the flash memory market grew to $4.1 billion in the second quarter of 2005, a four percent leap from $3.9 billion in the first quarter. Samsung, a large player in the flash memory market, controls 55 percent of the overall NAND flash memory sales.