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Report: Toshiba Pulling Out

19 Feb, 2008 By: Stephanie Prange

Toshiba is giving up on HD DVD, according to The Associated Press out of Tokyo.

The company will stop developing, making or marketing HD DVD players and recorders, the AP reports.

"We concluded that a swift decision would be best," Toshiba President Atsutoshi Nishida told reporters, according to the AP.

Nishida told reporters that Warner's decision to no longer support HD DVD and exclusively support rival format Blu-ray Disc, backed by Sony Corp., was crucial in the format war.

"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."

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