HD Format War Costs Toshiba $1 Billion

Holy. Cow.

Japan's 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. Toshiba Corp. is expected to see total HD-DVD losses to as much as nearly $986 million said the Nikkei business daily. Toshiba declined to confirm specific figures. "The company is currently assessing the possible losses," a Toshiba spokeswoman said. "If we need to revise an earnings report, we will make an announcement at an appropriate time."

The rest of the report is superfluous to anyone who reads this site. Possible losses? Possible losses?? I would not want to be a Toshiba stockholder right now.

read more | digg story