According to Gizmodo.com, the MultiMedia Card Association has approved a new "global memory card standard".
Heres what Gizmodo had to say,
"The specs seem fairly impressive: initial transfer rate and storage will be around 480Mbit/sec and 8GB, respectively, with both improving over time. The expected maximum capacity? 2048GB. I can definitely get behind two terabytes in my pocket. (I'm also happy to see you.)"
For more information, click on the link.