Yesterday, Reuters reported that a source said that "Toshiba was in the final stages of planning to exit the HD DVD business". A source tells us that exit plans for HD DVD were already in the works. The only question, was how to gracefully shutdown while liquidating existing product. Now that retailers and rental joints have turned their back publicly on the format, there's nothing graceful about the shutdown plans. There's little face to save on the consumer side.
An announcement could come as early as Tuesday, and will be most certainly made by the end of the week, our source indicated. At the top of Toshiba's list is how to maintain investor confidence in the face of factory shutdowns that will cost the company and some partners dearly.
The official announcement was made today.
Toshiba quits HD DVD business
Toshiba said Tuesday it will no longer develop, make or market HD DVD players and recorders, handing a victory to rival Blu-ray disc technology in the format battle for next-generation video.