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Next week it will be made official by Toshiba. An unnamed source inside the company states:

“We have entered the final stage of planning to make our exit from the next generation DVD business,” said the source, who asked not to be identified. He added that an official announcement could come as early as next week.

This all follows on the heels of Netflix, Best Buy, and Wal-Mart putting their retail muscle exclusively behind the blu-ray format. A substantial price cut of Toshiba’s HD DVD players was too little too late. Scrapping production of their players and leaving the industry will cost the company hundreds of millions of dollars.

source: Reuters