Toshiba quits HD DVD business - Feb. 19, 2008 

TOKYO (AP) -- Toshiba said Tuesday it will no longer develop, make or market HD DVD players and recorders, handing a victory to rival Blu-ray disc technology in the format battle for next-generation video. ... "We concluded that a swift decision would be best," Toshiba President Atsutoshi Nishida told reporters at his company's Tokyo offices. The move would make Blu-ray - backed by Sony Corp ( SNE )., Matsushita Electric Industrial Co., which makes Panasonic brand products, and five major Hollywood movie studios - the winner in the battle over high-definition DVD formatting that began several years ago. Nishida said last month's decision by Warner Bros. Entertainment to release movie discs only in the Blu-ray format made the move inevitable. "That had tremendous impact," he said. "If we had continued, that would have created problems for consumers, and we simply had no chance to win." Warner joined Sony Pictures, Walt Disney Co ( DIS , Fortune 500 ). and News Corp.'s ( NWS , Fortune 500 )   [More...] [Less...]