A split-second power disruption at a Toshiba Corp. factory in Japan could hurt shipments and raise prices for one of the world's most widely used computer chips, a mainstay of devices like smartphones, tablet PCs and digital music players.

Toshiba said the power outage could cause a 20% drop in its shipments over the next two months or so of chips known as NAND flash memory, which are used to store music, photos and data in products such as Apple Inc.'s iPhone and iPad.

Toshiba,...