As we reported yesterday, rumours that Toshiba would cease HD DVD production had been growing for weeks following the withdrawal of support from Hollywood studios and video retailers.

Owners of HD DVD products need not panic, though. Toshiba has promised to continue full product support and after-sales service for its players and recorders.

"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," added Nishida.

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