Toshiba Faces $986 mln Loss on HD DVDs: Nikkei

Thursday, March 13, 2008

Toshiba Faces $986 mln Loss on HD DVDs: Nikkei

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Toshiba is likely to book a 100 billion yen ($986 million) loss in its high-definition DVD business and post a full-year operating profit of around 250 billion yen, falling short of its outlook, the Nikkei business daily said on Thursday.

Toshiba's decision to pull the plug on HD DVDs will entail production line changes and other charges that would double the 50 billion yen loss the electronics group had previously expected this business year on next-generation DVDs, the Nikkei said.

Toshiba did not comment on the newspaper's report.

The industrial electronics group has said it expects an operating profit of 290 billion yen for the year through March, but executives said the outlook for the world's No.2 maker of NAND flash memory may be hurt by price falls in microchips and LCDs.