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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