HD DVD Failure To Cost Toshiba Almost $1 Billion March 15, 2008

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Reports from Japan are suggesting that the collapse of Toshiba’s HD DVD format will cost the company almost $1 billion dollars.

Despite the company’s share value rising when it first announced its surrender to the Blu-ray format, it seems the price of failure is sky high.

The Nikkei newspaper believes the losses will run to $995 million, but failed to disclose its sources. Toshiba refused to elaborate, in a statement: