Toshiba may finally support the 'rival' Blu-ray disc format as the Japanese company has been posting losses in the latest quarters.

Toshiba's president Atsutoshi Nishida who stepped down today, hinted that the company could start selling Blu-ray disc recorders in the Japanese market.

"It makes no sense to decide not to enter the Blu-Ray market simply because we lost the DVD-format war. We cannot change the fact that we lost, but we would like to keep our options open," he was quoted to say at Toshiba's general meeting held on Wednesday, the Japanese site Nikkei.com reported.

Toshiba lost the so-called high definition "format war" last year after failling to gain support from major U.S. movie studios.

Toshiba has focused on the development and marketing of DVD players with advanced resolution upscaling capabilities after the company quit the development of the HD DVD products.

The company lost a record $3.6 billion for the fiscal year ended March 31.