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Toshiba says cost of HD DVD exit is 65 billion yen

March 19th, 2008 · No Comments

Toshiba has lowered it earning forecast for the year, announcing that it will take a 65 billion yen loss for exiting the HD DVD business. The company lowered its group profit forecast for the financial year ending March 31 to 125 billion yen, down from 137 billion yen last year.
In a statement, Toshiba says: “Net sales are expected to be lower than previously forecast, reflecting the discontinuation of the HD DVD business and the decline in sales prices of NAND flash memories. While the PC business and Social Infrastructure segment are moving forward strongly, the Semiconductor business has seen a significant decrease in operating income due to a larger than anticipated declines in sales prices of NAND flash memories. Given this, the overall operating income is anticipated to see a decrease from the previous forecast. Income before income taxes and minority interest and net income are also expected to decrease from the previous forecast, primarily on costs incurred in the discontinuation of the HD DVD business.”

Tags: Corporate · HD DVD and Blu-ray · Trade · Video games

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