"The move will likely put an end to a battle that has gone on for several years between consortiums led by Toshiba and Sony vying to set the standard for the next-generation DVD and compatible video equipment.
The format war, often compared to the Betamax-VHS battle in the 1980s, has confused consumers unsure of which DVD or player to buy, slowing the development what is expected to be a multibillion dollar high definition DVD industry.
Toshiba's cause has suffered several setbacks in recent weeks including Friday's announcement by U.S. retailing giant Wal-Mart Stores Inc (NYSE:WMT - News) that it would abandon the HD DVD format and only stock its shelves with Blu-ray movies.
A source at Toshiba confirmed an earlier report by public broadcaster NHK that it was getting ready to pull the plug."
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