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Report: HD DVD loss to cost Toshiba nearly $1B

Posted: 17 Mar 2008 ?? ?Print Version ?Bookmark and Share

Keywords:HD DVD loss? Toshiba report? revenue losses?

Toshiba Corp. is reportedly expecting nearly $1 billion in losses this year due to the shutdown of its HD DVD business, according to AFP.

The company is expected to chalk up losses of as much as $985.61 million, the report said, citing Japanese daily Nikkei, which did not name sources.

A Toshiba representative declined to confirm the report, saying the company is still assessing possible losses and will make an announcement if there is a need to revise its earnings report.

Toshiba last month announced it is giving up its HD DVD business, which left Sony Corp.'s Blu-ray format to become the industry standard for high-definition video.

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