Japan's Toshiba joins Blu-ray camp, post-HD-DVD
TOKYO (Reuters) - Japan's Toshiba Corp (6502.T) said on Monday that it will join the Blu-ray Disc Association -- its former enemy in a bitter format war -- to make blu-ray players by year-end to tap demand for high-definition home movies.
Toshiba pulled the plug on its HD-DVDs last year, conceding defeat to the Blu-ray camp, led by proponents Sony Corp (6758.T) and Panasonic Corp (6752.T).
Toshiba, whose digital products segment reported a nearly 65 percent tumble in profit in the year that ended in March, is trying to raise market share and cut costs as it fights increasing price competition in PCs and TVs.
It will now procure key Blu-ray parts from other companies to make Blu-ray players and recorders, as well as PCs with Blu-ray drives.