Toshiba Takes $1 Billion Hit on HD DVD (Still Turns a Profit)

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Toshiba Takes $1 Billion Hit on HD DVD (Still Turns a Profit)

March 13th, 2008, 20:25 Posted By: Shrygue

via Gizmodo

he Nikkei business daily is reporting that Toshiba will take a $986 million hit this year for its ill-fought HD DVD campaign, though somehow the manufacturing supergiant will manage to post a roughly $2.5 billion profit nonetheless, down from a projected $2.9 billion or so.

The estimated cost of HD DVD for the company this year was supposed to be closer to half a billion, but the halt in production means costly line changes and "other charges." Toshiba itself isn't saying a word yet, but damn if there ain't truth to this.

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