Toshiba Puts HD DVD Loss at $666 Million
Toshiba’s losses on the HD DVD format, it appears, are only about two thirds of what they originally feared. According to the Associated Press, the company has announced that it will take a loss of the equivalent of $666 million on the failure of the high-def disc format.
Numerous reports, starting with one earlier this month from the Japanese news agency The Nikkei, had previously placed the figure at just under $1 billion.
The company also said it was lowering its profit forecast for the fiscal year to $1.26 billion, from a previous figure of just over $1.8 billion.