HD-DVD demise could cost Toshiba about $1 billion

A report last week in a Japanese daily business paper said Toshiba stands to lose $995 million on its decision to halt its HD-DVD efforts.
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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.