A chip has been developed that could make waiting hours to charge a phone a thing of the past.

Nanyang Technological University Professor Rachid Yazami, said the chip could cut recharging times down to ten minutes and increase battery life as well as decrease the risk of battery fires.

The news comes after the announcement that similar research by Oxford University into smartphone screens could cut charging needs down to once a week.

Yazami said that the chip has gained the interest of the likes of Sony, Sanyo and Samsung as well as car maker Tesla.

The smart chip sports a proprietary algorithm developed by Yazami that is based on electrochemical thermodynamics measurements (ETM technology). At present, lithium-ion batteries have a chip in them which only shows voltage and temperature readings. Today's battery chips are unable to detect a malfunction and can also show only the estimated amount of charge the battery is holding.

But the chip has a patented algorithm that is able to analyse both the state of health and the state of charge. This produces a chart that looks rather like a ski route down a mountain.

"The ski route' of a brand new battery looks different from those of a degraded or faulty battery just like how two fingerprints will look quite different," he said.