has officially announced that, after re-examining its HD DVD strategy, it has decided to stop developing HD DVD products and related technologies.
The company cites "recent major changes in the market" as the main reason behind such a decision. Toshiba will continue to provide full product support and service for all owners of Toshiba HD DVD products. We're not sure that this will make them happy, as they're probably cursing the day they bought their HD DVD drives, as it is, and no service support is going to make up for this problem.
Currently, Toshiba plans to reduce shipments of HD DVD products immediately and to halt them completely sometime next month. This includes both standalone HD DVD players and HD DVD drives, but the company has still not decided on what to do with its HD DVD-equipped notebooks.
It will be quite interesting to see what will happen to its notebook business, as the company has no time to waste and no choice but to go Blu-ray as soon as possible.
You can find the full press release here