Intel and STMicroelectronics has named its pending new flash memory company and it will hence forth be known as Numonyx. The new company "will focus on supplying non-volatile memory solutions for a variety of consumer and industrial devices including cellular phones, MP3 players, digital cameras, computers and other high-tech equipment."

"We want the industry to see that we are already hard at work to create a significant, agile and energetic new company and what better way to convey that than to give it a name," said Brian Harrison, vice president and general manager of Intel's Flash Memory Group and CEO-designate for Numonyx.

The new company is expected to be up and running some time in this half of the year and the Numonyx name is apparently a play on the word mnemonics.

You can read the Intel press release here