Toshiba Pulls Out of Format War

It looks like Toshiba has finally decided to stop supporting HD-DVD, citing that it would benefit the industry and customers in the long run.

"We carefully assessed the long-term impact of continuing the so-called 'next-generation format war' and concluded that a swift decision will best help the market develop," said Atsutoshi Nishida, President and CEO of Toshiba Corporation. "While we are disappointed for the company and more importantly, for the consumer, the real mass market opportunity for high definition content remains untapped and Toshiba is both able and determined to use our talent, technology and intellectual property to make digital convergence a reality."

I'm shocked, but hopefully the prices of Blu-Ray players and Blu-Ray DVDs will finally start dropping. Until then, looks like I'm sticking with my standard definition library...for now.