Yowza: Toshiba’s net profits plunge 95% thanks to HD DVD, flash prices

A year ago today Toshiba was announcing ¥26.17 billion in profits for the quarter. Today, just ¥1.25 billion or about $12 million. In addition to the $580 million hit on account of its withdrawal from HD DVD, Toshiba also saw a swift decline in flash memory prices. While bad news for Toshiba on all accounts, we consumers are basking in a market dominated by a single high-def optical disc standard and cheap NAND and DRAM pricing. Sorry Tosh, but you won’t find any tears around here.

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