Date: 03-14-2008
Toshiba Corp’s HD DVD gamble will cost the company dearly, with recent reports indicating losses expected to be worth about $986 million, although there was no disclosure of the figures from the company itself in its earnings report. Last year alone, the company registered a $400 million loss related to its HD DVD efforts, a loss which was then cited by the company as an investment for the future. Sources suggest, however, that Toshiba will be giving up on the format within the month, having ceded defeat to Sony’s Blu-ray format in the fight to become the industry standard for next-generation discs. The decision to pull the plug on the DVDs will mean a loss of $488.5 million, says Nikkei business daily.
