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HD DVD Fallout: Nukes 95pct of Toshiba's Profits
>> From ap.org:
[QUOTE]
Japanese electronics maker Toshiba Corp. said its profit plummeted 95 percent in the January-March quarter due to costs of its exit from next-generation video HD DVD business.
In Japan, Toshiba said its profit fell to 1.25 billion yen ($12 million) in the January-March quarter from 26.17 billion yen a year earlier. Revenue fell 3 percent from a year earlier to 2.09 trillion yen ($20 billion).
"Our net profit sharply fell due to the end of (the) HD DVD business," Toshiba spokeswoman Hiroko Mochida said.
Most of the decline came from shutting down assembly lines and dealing with inventory, according to Toshiba.
[/QUOTE]
Full Story: ap.org (via gizmodo.com)
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