Last week we reported that Nikkei Business Daily had estimated that Toshiba lost nearly billion dollars (100 billion yen) developing and promoting their high-definition format. Now Toshiba has announced its revised business forecast for the fiscal year 2007 and loss of $656 million (65 billion yen) mainly because of the HD DVD.
Toshiba seems to have gotten away with quite a bit smaller HD DVD loss than expected, but the consolidated forecast also sees lowered profit for the whole company. The loss comes from lower net sales than expected in the previous forecast, which the company says is a reflection of "discontinuation of the HD DVD business and the decline in sales prices of NAND flash memories." The net income was half the amount that the forecast from Octobet 29, 2007 expected.