Sony shares on high following Warner announcement
- Posted January 7th, 2008 at 11:38 EDT by Mike Harradence
- 15 Comments
Sony Corporation shares rose by 0.9% on the Tokyo Stock Exchange today, following Time Warner’s shock announcement that the studio is to exclusively support Sony’s high definition Blu-ray format.
Shares of the electronics giant rose to JPY 5,840 at 12.44pm, while in contrast, Toshiba Corp., lead promoters of the HD-DVD format, dropped by 2.5 per cent resulting in its lowest dip in nine months.
Writing in an email to Bloomberg, David Gibson, an analyst with Macquarie Securities, commented: “It's a game-changing event, game over for HD DVD”, adding, “Warner ``is the industry leader, and other studios will follow.”
A Toshiba spokesperson later commented on the company’s disappointment with Warner’s decision, telling Bloomberg: “We will assess the potential impact of this announcement with the other HD DVD partner companies and evaluate potential next steps.”
As the largest distributor of DVDs worldwide, Warner Bros is responsible for the shipment of over 300 million units each year, and with the firm’s commitment to Blu-ray solidified, many believe that the high definition format war has all but been decided.
Source: Bloomberg
Comments
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ZeRoAc1dKo0L |
ZeRoAciDKooL- 11:52am GMT - January 7th, 2008
- 2
this war can finally be over..... hd-dvd there isnt any solution to get back it the game... not even this biggest blockstar movie will help you now... HD format is won by blu-ray.....the console war now is and will be ps3....
PSN ID: ZeRoAciDKooL
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vvmasterdrfan |
VvMastrDrFan- 12:14pm GMT - January 7th, 2008
- 6
i love those last words..
"many believe that the high definition format war has all but been decided. "
music to my ears
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Cursed Ninja22 |
Monsta22- 12:42pm GMT - January 7th, 2008
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O itz been decided.....Whatcha gonna do when Blu go wild on u!!!!!!
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sorrow880 |
Sorrow880- 1:10pm GMT - January 7th, 2008
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According to Wikipedia, blu-ray has 70% studio support exclusively with the additions of Warner & New Line Cinemas. Just think about that. Blu-ray was already greatly outselling HD-DVD, now it has 70% of the movies coming to it exclusively. Once June hits, HD-DVD should be outsold by 4:1 margins easily. It is time for Toshiba to develop an exit strategy and limit their losses.
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gingo |
gingo- 1:42pm GMT - January 7th, 2008
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psn id: gingo.... i think the perfect song for this scenario is 50 cents straight to the bank, 0.9% rise is very good especially because sony didn't really do anytihng it was all Warner, "straight to the bank with it, haw haw haw, haw,haw haw haw haw haw"
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SWANN2099 |
SWANN- 2:16pm GMT - January 7th, 2008
- 10
Screw 50 Cent. He can get a big fat 1. Anyway, It was a done deal. BLU-RAY has been outselling HD-DVD for over year with a least 7:1 ratio. It just good business for Warner.Bros to make this move. A very smart and shrewd deal, indeed!!! Long live Sony and BLU-RAY!!!
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Motoken
- 8:52pm GMT - January 7th, 2008
- 13
When questioned about the steps Toshiba was taking to the "potential" impact of Warner’s decision Tadashi Okamura responded “I was not aware that there was a format called HD DVD, the name alone sounds ridicules.... but in good news Toshiba is announcing a new line of 1.5' thin LCD displays!"
Then Okamura revealed his new shirt stating the message “I Love Blu all the way!"
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InfernoReaper |
GrimDarkling- 5:07am GMT - January 8th, 2008
- 15
"Evaluate our next steps." Sounds like cut our losses and run with what we have.
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On a brighter note:
"Now with every McDonald's Value Meal, get a free HD-DVD player for a limited time. *Due to overwhelming returns, we will discontinue this offer immediately"
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