HD DVD Mess Forces Toshiba Forecast Lower

Mar 20, 2008  •  Post A Comment

Toshiba Corp. yesterday said fiscal 2007 earnings will be 31% less than previously forecast because of the discontinuation of its HD DVD next-generation disc-player format.
Earnings for the year ending March 31 will be 125 billion yen ($1.26 billion), less than the 180 billion yen it forecasted in October, the company said in a statement. Revenue will be 7.7 trillion yen, down 1.3% from its forecast.
Toshiba said last month it would discontinue its high-definition DVD format after Sony’s competing Blu-ray format gained market share since the beginning of the year. In January, Warner Home Video said it would exclusively back Blu-ray, causing retailers such as Best Buy and Netflix to start phasing out HD DVD players and discs.
Toshiba’s operating loss on HD DVD for fiscal 2007 will be 65 billion yen, wider than both the 50 billion yen forecasted and the 34 billion yen loss Toshiba took in fiscal 2006. HD DVD sales will be 26 billion yen, down 60% from its October forecast.


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