A carbon nanotube based memory device comprises a set of three concentric carbon nanotubes having different diameters. The diameters of the three concentric carbon nanotubes are selected such that an inner carbon nanotube is semiconducting, and intershell electron transport occurs between adjacent carbon nanotubes. Source and drain contacts are made to the inner carbon nanotube, and a gate contact is made to the outer carbon nanotube. The carbon nanotube based memory device is programmed by storing electrons or holes in the middle carbon nanotube through intershell electron transport. Changes in conductance of the inner carbon nanotube due to the charge in the middle shell are detected to determine the charge state of the middle carbon nanotube. Thus, the carbon nanotube based memory device stores information in the middle carbon nanotube in the form of electrical charge.