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Thursday, March 13, 2008

Toshiba Faces $1B Loss On HD DVD

Reuters says that although Toshiba will take a $986 million loss on its HD DVD business, the company will still post an overall profit of $2.44 billion.

Toshiba's decision to pull the plug on HD DVDs will entail production line changes and other charges that would double the 50 billion yen loss the electronics group had previously expected this business year on next-generation DVDs, the Nikkei said. "We did not announce this, and therefore we cannot comment," a Toshiba spokeswoman said.

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