Market sources claim Toshiba to give up on HD DVD format

Looks like Sony is going to win the next generation storage format war. Toshiba is said to be close to announcing that they are giving up on their developed HD DVD format.

If this is true, it would be a major victory for Sony which is behind the Blu-Ray format which is increasingly becoming more popular in the market.

This format war between Toshiba and Sony was pretty similar to the one between Betamax-VHS formats several years ago.

An inside source was quoted as saying: “We have entered the final stage of planning to make our exit from the next generation DVD business.”

Experts believe that this new development is going to hurt the company a lot financially. The company stands to lose tens of billions of yen to move out of this segment of the market.

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