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

Illustration for article titled 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]

DISCUSSION

I thought Bill Gates was on the billion dollar bill. No one remembers Grover Cleveland anyway. Maybe to solve the budget crisis we should allow people to buy rights to be on money. If they can re-name sports fields for big bucks, why cant we have sell ad space on money?