Page last updated at 13:08 GMT, Friday, 19 September 2008 14:08 UK

Toshiba warns it will make a loss

Toshiba headquarters, Tokyo
Weak demand and falling prices for flash memory have hurt business

Toshiba has said it will swing into the red in the first half of the year, the first time in five years. It blames falling chip prices and weak demand.

The Japanese electronics giant said it expects to post a 30bn yen ($281m; 153m) operating loss in the six months to September 2008.

In the same period last year it made a profit of 45.7bn yen.

The global slowdown and a fall in the price of flash memory - used in digital gadgets - was to blame, Toshiba said.

"We apologise that the company has to greatly lower the business forecast," said Toshiba vice president Fumio Muraoka.

Toshiba has been affected by its next-generation high definition DVD format, HD-DVD, losing out to Sony's Blu-Ray.

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