Toshiba blanks HD-DVD death reports as shares surge on the news

By Patrick Garratt
18 February 2008 11:25 GMT

Toshiba has issued a statement saying that the fat lady hasn’t sung quite yet on HD-DVD, despite reports from both NHK and Reuters to the contrary.

“The media reported that Toshiba will discontinue its HD-DVD business,” said a spokesperson. “Toshiba has not made any announcement concerning this. Although Toshiba is currently assessing its business strategies, no decision has been made at this moment.”

Toshiba’s shares are up 6 percent in Japanese trading today, pushed by the news that Toshiba is making a sensible exit from a potentially damaging contest with Blu-ray in the next gen disc space. A final announcement from Toshiba is expected on Tuesday.

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