Dutch company Philips Electronics says it has developed a new technology with Japan's Mitsubishi Kagaku Media that nearly doubles the storage capacity of data on recordable DVD discs.

Philips, Europe's largest maker of consumer electronics and lighting, said Friday that its new dual-layer technology raised the capacity of recordable DVDs (DVD+R) to 8.5GB from 4.7GB for single-layer DVD discs.

Read more: CNet News.