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A novel programming by hot-hole injection nitride electron storage (PHINES) Flash memory technology is developed. The memory bit size of 0.046 μm2 is fabricated based on 0.13-μm technology. PHINES cell uses a nitride trapping storage cell structure. Fowler-Nordheim (FN) injection is performed to raise Vt in erase while programming is done by lowering a local Vt through band-to-band tunneling-induced hot hole (BTBT HH) injection. Two-bits-per-cell feasibility, low-power and high-speed program/erase, good endurance and data retentivity make it a promising candidate for Flash EEPROM technology in gigabit era applications.