Page last updated at 09:29 GMT, Wednesday, 19 March 2008

HD DVD defeat hits Toshiba profit

Rival DVD format stands
Toshiba pulled out of the format war with Sony last month

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.




SEE ALSO
Toshiba drops out of HD DVD war
19 Feb 08 |  Business
Toshiba climbs on 'HD DVD exit'
18 Feb 08 |  Business
Wal-Mart backs Blu-ray over rival
16 Feb 08 |  Business
Blockbuster to focus on Blu-ray
18 Jun 07 |  Business
Sony upbeat in DVD format battle
12 Jun 07 |  Business
Hybrid answers to DVD format wars
04 Jan 07 |  Technology
Sony price cut for Blu-ray player
04 Jun 07 |  Business

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