Toshiba Loses $1 Billion

Posted on Mar 13, 08 10:33 AM PDT

Bonuses at Toshiba won't leave executives smiling this year, considering the collapse of their HD DVD dream which resulted in a 100 billion yen loss - that is roughly $986 million, enough to make anyone weep. A Toshiba spokeswoman claim that this is not an official announcement, and hence she cannot give any comment on it. This report caused a little bit of jitters for Toshiba's stock that shed another 2.3%. Well, at least they still have their nuclear power markets to look forward to.

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