Toshiba Buys A Billion Dollar HD DVD Player
$986 million to be more precise. Why so much? It's the last one. That's the projection for the cost to Toshiba to close up shop and retool its production line to make something else. It's the final chapter for Toshiba's ill-fated attempt to offer its HD DVD alternative to Sony's Blu-ray high-definition disk player. Toshiba still turned a profit for their full fiscal year, although it was much smaller than anticipated, and that helped drive its stock price substantially lower after the report of the price tag for HD DVD funerary expenses hit the wires. The report came from the Nikkei Business Daily, not directly from Toshiba. What's Toshiba have to say about it?
"We did not announce this, and therefore we cannot comment," a Toshiba spokeswoman said.
Ouch. Why do I get the feeling that the response was given from someone hiding under a desk, in the fetal position?