Toshiba profits down 95%

Toshiba face yet more hardship ahead, reporting net profits down a shocking 95%.

For Toshiba’s last January to March quarter, net profit stood at £292 million, but according to Toshiba, loosing the format war, the loss of HD DVD, cost them, with profit now standing at £6 million.

Running alongside the format war problems, dealing with inventory, restructuring assembly lines and the drop in flash memory chip prices also hurt Toshiba’s results.

Toshiba are expecting normal service to resume fairly soon.

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