Both Japan’s NHK and Reuters are reporting that Toshiba is finally ready to concede the obvious and pull the plug on HD DVD, with an announcement to come as early as this week. Reuters cites an internal company source which told them that Toshiba is in the final stages of planning their exit from the HD DVD business and that the announcement would be made soon.
NHK reports that Toshiba plans to stop producing HD DVD players and recorders at its plant in Aomori Prefecture, northern Japan. And, of course, all future development of the format will cease. There is an extraordinary meeting of Toshiba’s board of directors early this week, and the exit plan is expected to be decided at that meeting. Toshiba will suffer a loss of tens of billions of yen, hundreds of millions of dollars, related to the termination of their HD DVD business.