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HD DVD defeat hits Toshiba profit
Wednesday, 19 March 2008



Toshiba has said the decision to stop making high definition DVD players will cost the company 65bn yen ($666m; £330m) and hit its profits for 2007.
In February, the Japanese electronics company pulled out of the format battle, having been defeated by its Sony-backed rival, Blu-ray.
Toshiba said the falling price of flash memory chips would also hurt earnings.
The company expects group profits to be 125bn yen, down from a 137.4bn profit in the previous year.
Toshiba decided to stop making HD DVD players and recorders after Warner Bros said it would only release its films in the Blu-ray format.
Sony Pictures, Walt Disney and Twentieth Century Fox had opted for Blu-ray as their standard from the start.