Toshiba Takes $1 Billion Hit on HD DVD (Still Turns a Profit)

The Nikkei business daily is reporting that Toshiba will take a $986 million hit this year for its ill-fought HD DVD campaign, though somehow the manufacturing supergiant will manage to post a roughly $2.5 billion profit nonetheless, down from a projected $2.9 billion or so. The estimated cost of HD DVD for the company this year was supposed to be closer to half a billion, but the halt in production means costly line changes and "other charges." Toshiba itself isn't saying a word yet, but damn if there ain't truth to this. [Reuters; Bill Image Source]