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Toshiba announces withdrawal from HD DVD business |
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19:29, February 19, 2008 |
Toshiba Corp. officially announced its complete withdrawal from high-definition (HD) DVD business on Tuesday, leaving Blu-ray technology promoted by electronics makers such as Sony, Panasonic and Hitachi the standard for next-generation DVDs.
The company said it will immediately stop producing HD DVD equipment and buy back all the products at retailers by around the end of March, but will continue to provide after-sales services to consumers.
Toshiba first expressed its intent to retreat from the format war on Saturday in view of most major software retailers and movie distributors' recent announcement of their inclination to the rival Blu-ray format.
Market watchers said the move will cost Toshiba tens of billions of yen.
Source: Xinhua
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