Toshiba has officially admitted defeat in the high definition DVD format war between HD-DVD and Blu-Ray. Sony's Blu-Ray format is the victor. Toshiba, along with other HD-DVD backers like General Electric and Microsoft, must now shift their focus to damage control, i.e. phasing out the format in the best way possible. This means dramatically reducing the price of Toshiba's remaining players and providing customer support to HD-DVD player owners.
In a move that could tip the balance of power in the format war over the next generation of DVDs, Time Warner Inc.'s Warner Bros. Entertainment said it plans to release high-definition movies exclusively in the Blu-ray format, dealing a major blow to rival HD DVD. Warner's decision means that some 70 per cent of movies will be released exclusively on Blu-ray, leaving Paramount, Universal and DreamWorks as the only major studios to have signed on exclusively with HD, at least until the end of this year.
Toshiba reached a deal to use LCD panels made by Sharp Corp. in its flat-screen televisions, narrowing its focus in televisions to the LCD market. Toshiba also has made televisions with the two other main digital technologies, plasma and rear projection, but has recently been pulling back on those efforts.
Toshiba announces a 231% increase in net income during 2006 Q3 in comparison to 2005 Q3. Stocks rise from $5.95 to $6.5.
Toshiba announces the completion of the Westinghouse UK Limited acquisition, causing stocks to rise from $5.75 to $6.30. Toshiba had to face legal barriers in order to complete the take over.
HD-DVD news begins to flourish, making it apparent that Microsoft (MSFT) will ally with Toshiba in the next generation DVD 'war'. Stocks rise from $3.85 to $7.00.
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