The reports were right on: Toshiba is quitting the HD DVD business, leaving Blu-ray as the last format standing. The recent history is well known, as Blu-ray has racked up an impressive string of wins, both from studios and electronics retailers, leaving HD DVD with little room to maneuver. Toshiba tried some last-ditch price cuts, but they didn’t have much hope of working, in light of everything else. It hopes to have the business wound down by the end of March. Release.

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AP: We concluded that a swift decision would be best,” Toshiba President Atsutoshi Nishida told reporters at his company’s Tokyo offices… Nishida said last month’s decision by Warner Bros. Entertainment to release movie discs only in the Blu-ray format made the move inevitable. “That had tremendous impact,” he said.

Reuters: The company said it would continue to service existing HD DVD products, and added it expected bigger profits over the next year as it will cut spending earmarked to promote HD DVD.