Mark Gilbert’s Blog

Reuters is reporting that Toshiba is giving up on the HD-DVD format and admitting defeat to Blu-Ray. Toshiba’s share price rose 5% on the enws with investors happy that Toshiba have decided to cut it’s losses after a last ditch price cut was unable to prevent Wal-Mart putting all it’s eggs in the Blu-Ray basket.

A Toshiba source who asked not to be named said

We have entered the final stage of planning to make our exit from the next generation DVD business,

Cheers