rohiniro , if your player have a genuine 2GB memory chip, formatting will not decrease the memory size.
If your memory chip is hacked, then you will have a decrease in memory size.
Like tadad1 suggested, do a format on your player first and see if it solves your problem. The guide is here
http://www.mympxplayer.org/how-to-re...ck-vt2400.html