Blu-ray celebrates as Toshiba 'ends HD-DVD'
Reuters claims that Toshiba will continue to sell its existing hardware, but will not fund resources for further product development after enduring losses which could amount to 'hundreds of millions of dollars'.
The news, which follows announcements from a string of high-profile movie studios which have abandoned the HD-DVD format, should help the PlayStation 3 become ever more mainstream thanks to its built-in Blu-ray player.
Despite the report, however, Toshiba refused to confirm or deny the news, issusing a statement which read: "The media reported that Toshiba will discontinue its HD-DVD business. Toshiba has not made any announcement concerning this. Although Toshiba is currently assessing its business strategies, no decision has been made at this moment.”
The Associated Press, however, predicts Toshiba will confirm the demise of HD-DVD as early as tomorrow after news emerged that the firm is holding a board meeting to discuss the issue.