Toshiba announces press conferences, expected to end HD DVD

Japanese news website Nikke.net reports that Toshiba has scheduled a press conference for 5PM Tokyo time (12AM PST) on Tuesday.

According to the well-respected Nikkei financial newspaper (see Alternative Sources,) Toshiba will announce an immediate withdrawal from its HD DVD business. Toshiba will cease all development, production and sales of HD DVD players -- effective immediately.

Toshiba president Atsutoshi Nishida would make the announcement, the Japanese newspaper said.