Toshiba to take $1 billion hit on HD-DVD

By Patrick Garratt, Thursday, 13 March 2008 07:18 GMT

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The Nikkei’s reporting the Toshiba is likely to write down just under $1 billion in its failed war on Blu-ray. The company has refused to comment on the report, which has hit the firm’s share price to the tune of 2.3 percent. Toshiba is still expected to post a 250 billion yen operating profit for the year, despite the decision to ditch HD-DVD.

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