Final answer:
Digital circuits with memory or storage capabilities are called sequential circuits, which include timing elements to store data, crucial for computers and smartphones.
Step-by-step explanation:
Digital circuits that have memory or storage capability are known as sequential circuits. Unlike combinational circuits, which do not have storage and provide outputs purely based on present inputs, sequential circuits incorporate timing elements such as flip-flops, which allow them to remember past inputs by storing bits of data. This capability is essential for functionality in devices like computers and smartphones, where handling and storage of data are necessary. Integrated circuits contain a vast collection of these transistors, which handle the digital signals essential to binary code. These advancements in digital computing technology, spearheaded by the invention of the integrated circuit, helped to drive the modern computer revolution.