HD DVD Toshiba's faced $986 Million Loss : New gizmos, Gadgets gazette Blog

Wednesday, March 12, 2008

HD DVD Toshiba's faced $986 Million Loss

HD Dvd ToshibaAccording to a report appearing in The Nikkei, Toshiba's HD DVD gamble will cost the company $986 million (100 billion yen) for this year.

I'd been waiting to see how much Toshiba would charge to the shuttering of its HD DVD business; curiously, Toshiba did not disclose this number at its last earnings report. Nor did the company mention this when it announced its withdrawal from producing HD DVDs last month. The Nikkei report indicates that Toshiba has not confirmed or offered comment on the losses.

Last year alone, Toshiba posted a $400 million loss on HD DVD; then, the company justified it by saying it was an investment in the future. Now, the company is trying to wrap up its HD DVD business by the end of March. It's no surprise that players and movie discs are being deeply discounted, with the discounts getting steeper the further removed we are from Toshiba's decision to pull the plug on HD DVD.

Via- [http://blogs.pcworld.com/staffblog/archives/006633.html]

No comments: