Toshiba Profits Down 95% Due To HD DVD Exit
By
Humphrey Cheung,
published on April 25, 2008 at 5:40 PM
Source: Tom's Guide US | Keywords: toshiba, dvd, blu-ray | Themes: Digital Entertainment
Source: Tom's Guide US | Keywords: toshiba, dvd, blu-ray | Themes: Digital Entertainment
Syndication:
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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Amazing. Hopefully no layoffs
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.