Toshiba quits HD DVD business

By YURI KAGEYAMA, AP Business Writer
Tue Feb 19, 7:02 AM ET

TOKYO - Toshiba said Tuesday it will no longer develop, make or market
HD DVD players and recorders, handing a victory to rival Blu-ray disc
technology in the format battle for next-generation video.

"We concluded that a swift decision would be best," Toshiba President
Atsutoshi Nishida told reporters at his company's Tokyo offices.

The move would make Blu-ray — backed by Sony Corp., Matsushita Electric
Industrial Co., which makes Panasonic brand products, and five major
Hollywood movie studios — the winner in the battle over high-definition
DVD formatting that began several years ago.

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