Yes, your future iPod or iPhone can easily have up to 500 terabytes of storage capacity! Researchers at the University of Glasgow have worked out a new nanotechnology that can store 500TB of data in a single chip (as small as one inch square). This equals to 127 million songs on something as small as your iPod Shuffle.
No timeline for commercial release has been announced, but this technology will surely find its way to your iPod, Notebooks and cellphones.