Milpitas, Calif. - SanDisk (NASD: SNDK) on Wednesday introduced its $20 Sansa slotMusic Player, a portable MP3 player that plays music either pre-recorded onto slotMusic card albums or self-loaded onto microSD cards. Meanwhile, the first slotMusic card albums from more than 40 artists began shipping to Best Buy and Wal-Mart stores. The $14.99 cards include new releases from Coldplay, Rihanna and Leona Lewis, and catalog titles from acts like Elvis. SanDisk also said it will also sell artist-branded slotMusic Players, which come pre-loaded with an album by artists like ABBA or Robin Thicke, for $34.99.

Milpitas, Calif. - Shares of SanDisk (NASD: SNDK) dropped 24% on Tuesday, a day after the maker of flash storage cards and MP3 players reported a second-quarter loss that sunk well below analyst expectations.

Milpitas, Calif. - SanDisk (NASD: SNDK), a maker of MP3 players and flash storage media, announced on Tuesday that it has acquired MusicGremlin, the maker of a Wi-Fi-enabled digital audio player. Financial terms of the deal were not disclosed. Founded in 2003, New York-based MusicGremlin's eponymous device was one of the first to allow music direct music downloads over a Wi-Fi connection without the need of a computer.