Gamernode: News - Toshiba to lose $1 billion due to HD-DVD's demise?

Toshiba to lose $1 billion due to HD-DVD's demise?

After the death of HD-DVD format in February, folks have been wondering on how the aftermath will affect Toshiba, the format's biggest supporter. According to Japan's Nikkei Business Daily newspaper, Toshiba will suffer an estimated $1 billion loss but the company hasn't officially commented on the figure.

The newspaper report also said that due to continued poor sales of HD DVD players, DVDs and advertising losses, another 50 billion yen ($497.55 million) will be tacked onto Toshiba's mounting losses.

A Toshiba spokesperson said, however, "When we have determined of a revision to our earnings forecast for the fiscal year ending March is necessary we will release it as soon as possible." So in the end, they just don't know yet.

So what's next for Toshiba? They're planning to get into the flash memory market by announcing plans for next-generation flash memory drives. It'll cost them $16 billion, but it's a booming business.

[Via eFluxMedia]

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