Feeling stupid for shelling out hundreds on a HD DVD player and discs, only to find out you’ve bought obsolete technology? Take heart: At least you didn’t blow a billion dollars. AFP:
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, a newspaper said Thursday.
Toshiba Corp. is expected to see total HD DVD losses balloon to as much as 100 billion yen (985.61 million dollars), the Nikkei business daily said, without identifying its sources.
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.”
Gotta love those stonewalling Toshiba/HD DVD folks, who have steadfastly refused to acknowledge that the earth is round, gravity is real, and that their format had lost — until they had no choice. [Via VentureBeat]
Business Insider Emails & Alerts
Site highlights each day to your inbox.