Toshiba 'to lose $1 billion' on HD DVD

THE NIKKEI is reporting today that Toshiba expects to lose about ¥100 billion as a result of having lost the HD DVD versus Blu-Ray DVD format war to Sony. That translates to approximately US $1 billion.

Toshiba threw in the towel on its HD DVD technology last month following a few announcements by Warner Brothers Studios and others that they would no longer support the format, coupled with sharp drops in unit sales of players and media.

Toshiba refused to comment on the rumour. A spokeswoman for the company said, "The company is currently assessing the possible losses. If we need to revise an earnings report, we will make an announcement at an appropriate time." µ

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