Losses High for Toshiba After Losing HD Wars
Toshiba could expect to loose as much as $1 billion (USD) as it closes out the company’s fiscal year on March 31, according to Japan’s Nikkei business news. The reason for this landmark downturn was Toshiba’s loss to Sony Blue-ray as the premiere HD format.
Toshiba released a press statement that basically gave the standard big company fare that it will be evaluating its current financial situation and will release a revision to its earnings forecast as soon as possible, if that becomes necessary.
Inspite of recorded losses in the HD DVD trade Toshiba is still epected to post an overall net gain in profits for fiscal 2007.
Actually, I’m looking forward to more Bad Horse.
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