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Ben Preiss
HD DVD RIP, Toshiba pulls plug on HD DVD, leaving Sony’s Blu-ray the Winner (VIDEO)
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Japan’s Toshiba resigned the Hi-Def format war in defeat and acknowledged that their Japanese rival Sony’s Blu-ray format is the winner after its HD DVD format lost support of key players. Things don’t always go Sony’s way, anybody remember Betemax videotape payers? This is a real bummer for the million or more people that bet their cash on the wrong horse and are now stuck with HD DVD players.
The Blu-ray win means consumers no longer have to choose between rival incompatible formats and run the risk of being stuck with a 21st century equivalent of Betamax -- Sony's videotape technology that lost out to VHS in the 1980s.
"This was a very difficult decision to make ... but when we thought about the trouble we would cause to consumers and our partners, we decided it was not right for us to keep going with such a small presence," Toshiba Chief Executive Atsutoshi Nishida told a news conference.
The company said it would continue to service existing HD DVD products, and added it expected bigger profits over the next year as it will cut spending earmarked to promote HD DVD.
The tide turned against HD DVD after the defection to Blu-ray by Time Warner Inc's (TWX.N) Warner Bros studio last month.
Big U.S. retailers soon followed, including Wal-Mart Stores Inc (WMT.N), Best Buy Co Inc (BBY.N) and online video rental company Netflix Inc (NFLX.O), and pundits began writing obituaries for HD DVD.
(news.yahoo)
Read More: news.yahoo
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