NEWS: Toshiba losses on HD DVD could rise to $666m

They say money talks. In the case of Toshiba, the fallout from the demise of HD DVD is becoming clearer and the accountants certainly seem to have spoken.

The company's official forecast for the financial year shows a loss of 65 billion yen ($666m), although this was less than originally predicted.

Still, you can see why the men in suits might have finally said "enough!" and conceded defeat to rival Blu-ray.

However, there's a glimmer of hope for HD DVD owners in the US. Best Buy is to give $50 gift cards to customers who bought an HD DVD player or HD DVD attachment stores from its US stores before February 22.

The retailer estimates it will distribute more than $10m in gift cards.

"The format war has divided our customers in a way we haven't seen since Betamax took on VHS more than 20 years ago," says Brian Dunn, Best Buy's president. "Now that the format war is over, we hope these gift cards will reassure our customers that we will help them make a smooth transition into the right technology for their needs."

Best Buy also operates an online trade-in service. Consumers who wish to dispose of their HD DVD players, regardless of where they were purchased, can visit the site to receive instant estimates of their trade-in value, download a free pre-paid shipping label and receive an additional gift card as payment for their trade-in.

Wonder if any UK retailers will follow Best Buy's lead on this?

Technorati Tags: 1080p, Best Buy, Blu-ray, HD DVD

Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.