A statement from the firm read: "The media reported that Toshiba will discontinue its HD DVD business. Toshiba has not made any announcement concerning this. Although Toshiba is currently assessing its business strategies, no decision has been made at this moment.”
However, according to the Associated Press the coffin's lid could be shut as soon as tomorrow following the scheduling of a board meeting to discuss the matter.
Analysts believe that the news, should it arrive, is good news for the consumer – and of course for Sony.
"If true, this will be good news for the next-generation DVD industry in clearing up the confusion for consumers because of the format competition that had curbed buying," Credit Suisse’s electronics analyst Koya Tabata stated. "This will work toward a profit boost for Sony."
Despite the turbulence, Toshiba’s stock has climbed by 5.7 per cent in Tokyo, most likely as a reaction to the perceived damage limitation that ending the troubled format represents.