The fab folks at Philips have come up with a tiny 3cm optical disk which can store 1GB of data. Their press release claims that this is just the first step in making this type of disc even smaller.

The company is targeting the product at PDA and mobile phone makers, and apparently the drives use Blu-Ray technology which will also be at the heart of the next generation of CD sized discs slated to hold 27GB of information per side.