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Investors cheer as Toshiba nears HD DVD surrender

Tokyo (Reuters) - Investors cheered an impending end to a format war for next-generation DVDs on Monday, pushing up shares of both Toshiba, on the verge of abandoning its HD DVD discs, and Sony, the leader of the rival Blu-ray camp.

Toshiba Corp shares jumped 5.1 percent as analysts praised its decision to cut its losses, while Sony Corp, whose technology is set to become the industry standard for the next generation of high-definition home movie DVDs, rose 2.7 percent.

Analysts gave high marks to Toshiba's seemingly quick decision to pull the plug on HD DVD because of the heavy costs involved in promoting the format tat has no growth potential without video software.

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IntelligentAj3472d ago

It's about damn time. Now they can make some money on HD optical media for another 5-10 years that it takes for DD to become widespread.

Ricdog3472d ago

U gave it ur best and now its time to throw in the towel. U did get a few hits at Sony, but u were ultimitly out performed. Don't worry Toshiba ur still a great company and there will be other format wars in which u can win, but for know the BD won the belt.

For now.

Peekay3472d ago

Toshiba stands to loose a lot of money and the share price goes up.

games4fun3472d ago

tired to tell you why, ah what the hay toshiba makes a lot of things but the reason their stock goes up is because they now stand to make a lot of money by making blu-ray products they went from a company making a lack luster selling technology to making something that is going to be standard and sucessful.

Bathyj3472d ago

Isn't the stock market funny. Toshibas shares rose higher than Sonys for being a gracious loser. Weird.

Anyway, is there any actual official word on this yet?

antoinetm3472d ago

Investors were discounting toshiba because they thought that the company would continue wasting money on HD. So everyone was anticipating more loss of money.

Now, as stated above, that money will invested in much more profitable devices and projects.

Hail the stock market!

nix3472d ago

An old man turned ninety-eight
He won the lottery and died the next day
It's a black fly in your Chardonnay
It's a death row pardon two minutes too late
And isn't it ironic... don't you think

It's like rain on your wedding day
It's a free ride when you've already paid
It's the good advice that you just didn't take
Who would've thought... it figures

Mr. Play It Safe was afraid to fly
He packed his suitcase and kissed his kids goodbye
He waited his whole damn life to take that flight
And as the plane crashed down he thought
"Well isn't this nice..."
And isn't it ironic... don't you think

It's like rain on your wedding day
It's a free ride when you've already paid
It's the good advice that you just didn't take
Who would've thought... it figures

Well life has a funny way of sneaking up on you
When you think everything's okay and everything's going right
And life has a funny way of helping you out when
You think everything's gone wrong and everything blows up
In your face

A traffic jam when you're already late
A no-smoking sign on your cigarette break
It's like ten thousand spoons when all you need is a knife
It's meeting the man of my dreams
And then meeting his beautiful wife
And isn't it ironic...don't you think
A little too ironic...and, yeah, I really do think...

It's like rain on your wedding day
It's a free ride when you've already paid
It's the good advice that you just didn't take
Who would've thought... it figures

Life has a funny way of sneaking up on you
Life has a funny, funny way of helping you out
Helping you out

xsteinbachx3472d ago

all i can say is finally i've been wanting those hd dvd movies on blu ray forever.

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