Spintronics can be fairly new term for you but the concept isn't so very exotic .This technological discipline aim to exploit subtle and mind bending esoteric quantum property of electron to develop a new generation of electronics devices.
Description of Spintronics
The ability to exploit spin in semiconductor promise a new logical devices as spin transistor etc with enhanced functionality higher speed and reduction power conception and might have a spark revolution in semiconductor industry. so far the problem of injecting electron with controlled spin direction has held up the realization of such spintronics.Spintronics is an emergent technology that exploits the quantum propensity of the electrons to spin as well as making use of their charge state.
The spin itself is manifested as a detectable weak magnetic energy state characterised as "spin up" or "spin down". Conventional electronic devices rely on the transport of electrical charge carriers - electrons - in a semiconductor such as silicon. Device engineers and physicists are now trying to exploit the spin of the electron rather than its charge. Spintronic-devices combine the advantages of magnetic materials and semiconductors.
They are expected to be non-volatile, versatile, fast and capable of simultaneous data storage and processing, while at the same time consuming less energy. Spintronic-devices are playing an increasingly significant role in high-density data storage, microelectronics, sensors, quantum computing and bio-medical applications, etc.