Wednesday, March 19, 2008
Toshiba cut its profit forecast for the fiscal year to 125 billion yen ($1.26 billion), down 30.6 percent from the initial forecast. It reduced its sales projection to 7.7 trillion yen ($78 billion), down 1.3 percent from the previous forecast.
Due to the HD DVD flop, Toshiba is projected to report a 110 billion yen ($1.10 billion) pretax loss in write downs this year.It will show some 65 billion yen ($666 million) in operating loss due to its failed HD DVD business.
By: DocMemory
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