HD DVD To Cost Toshiba $1 Billion Dollars
March 17, 2008
Toshiba expects to post nearly one billion dollars in losses this year as it shuts down its HD DVD business after losing to rival Sony’s Blu-ray format according to the Nikkei business daily.
Toshiba declined to confirm specific figures and refused to elaborate, in a statement:
“The company is currently assessing the possible losses. If we need to revise an earnings report, we will make an announcement at an appropriate time.”
Toshiba will stop selling its HD DVD players at the end of the month which is claimed will cost around $500 million in dismantling its manufacturing set-up. The rest of the loss will be made up of unsold HD DVDs, players and the money spent on marketing and advertising HD DVD.
So who bought one of these players? Anyone?
