8 GigaBITS (mentioned at the end of the flash chip's ID number) = 1 GigaBYTE. Because 1 Byte = 8 Bits. So the player was probably hacked to show 8 GigaBytes of storage while it only has 1GB.
The flash chip is the rectangular (and usually largest) chip on your player.
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For my dreams i hold my life...
I miss my Meizu M6SL... Currently rocking a Sony Ericsson w595 on Samsung in-ear phones. Does fine, but it's not a chipod... 
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