03.18.2008 08:03 AM
Originally featured on BroadcastEngineering.com
HD-DVD demise could cost Toshiba about $1 billion
When the accounting is complete, Toshiba may show a lost of nearly $1 billion on its development, production, marketing and the ultimate demise of its HD-DVD format, according to a report last week from a Japanese daily business paper.
Quoting a report in "The Nikkei," the Associated Press reported the company expects its losses to reach $498 million. However, the report said the decision to pull the plug on the format could actually result in losses of $995 million for the fiscal year ending March 31.
Last month, Toshiba said it would cease production and marketing of HD-DVD players.