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Toshiba counts cost of ill-fated HD DVD – $1bn
Though unconfirmed by the company, Toshiba is to write off in the region of ¥100 billion ($986 million) for its ill-fated HD DVD business, according to Japan's Nikkei business daily.
Changing HD DVD production lines and other related activities would double the ¥50 billion loss Toshiba was expecting this financial year on next-generation DVDs, the Nikkei said.
The giant manufacturing group had expected to declare an operating profit of ¥290 billion for the year through March. With this write-off Toshiba is likely to post a lower full-year operating profit of around ¥250 billion.
Nikkei adds that the outlook for the world's No.2 maker of NAND flash memory may also be hurt by price falls in microchips and liquid crystal displays.
Story filed 14.03.08
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