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Toshiba Profits Down 95% Due To HD DVD Exit

- By - Source : Tom's Guide US

 

Tokyo (Japan) - Toshiba’s profits plunged 95% for the fiscal quarter ending in March. The company reported that its profits were a paltry $12 million dollars and that it took a $461 million charge for its exit from the HD DVD business. It also took a $580 million operating loss during the quarter.

Quarterly revenue was basically flat at $20 billion. The company also blames the drop in flash memory prices for its dismal performance.

Read more ... AP via Google.

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Anonymous 04/26/2008 7:36 AM
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Amazing. Hopefully no layoffs

sandmanwn 04/28/2008 3:02 PM
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Toshiba shouldn't have to lay anyone off. They can just as easily put those people back to work making BluRay players. I personally hope they make a break through in China and get HD-DVD going there.