February 18, 2008 by Chuck McKenney
Toshiba is sticking with HD DVD for now. And in this case, “for now” means this minute.
“There have been media reports that Toshiba will discontinue its HD DVD business,” a Toshiba spokesman told the BBC. “In fact, Toshiba has not made any announcement or decision. We are currently assessing our business strategies, but nothing has been decided at the moment.”
A company official, speaking on condition of anonymity, says a board meeting on the issue could be held as soon as Tuesday, according to the Associated Press.
The high-def format war started to turn in January when Warner announced it would no longer release movies in HD DVD. Blu-ray gained even more momentum last week, following news that Best Buy, Netflix and Wal-Mart would support that format.
There’s no doubt Toshiba is feeling the financial pressure. Toshiba shares surged more than 5% this morning amidst the speculation it was dumping HD DVD.
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