Led by NAND flash memory, worldwide memory revenue reached $33.7 bln in 2003, an increase of 18% over the 2002 total of $28.4 bln. Sales of NAND flash soared by 75% from $2.4 bln in 2002 to $4.1 bln last year. That huge growth was fueled by explosive demand for flash cards and USB flash drives. NOR flash, DRAM and SRAM sales all increased by modest amounts in 2003 as megabyte growth was partially offset by continued downward price pressure. In 2004 DRAM revenues were up 13% at $15.5 bln, SRAM sales increased by 16% to $3.4 bln and NOR flash memory revenues increased 16% to $6.8 bln.