Toshiba faces $986 million loss on HD DVDs
By
Japan’s Toshiba is likely to book a $986 million loss in its high-definition DVD business and post a full-year operating profit of about $2.44 billion, falling short of its outlook, the Nikkei business daily said Thursday. Shares of Toshiba opened down 2.3 percent at 717 yen ($7) on the report.
Toshiba’s decision to pull the plug on HD DVDs will entail production line changes and other charges that would double the 50 billion yen ($488.5 million) loss the electronics group had previously expected this business year on next-generation DVDs, the Nikkei said. “We did not announce this, and therefore we cannot comment,” a Toshiba representative said.
Comments are closed.