The price of failure

Wow! This from Technology Review

TOKYO (AP) — Japanese electronics maker Toshiba said Friday its net profit plummeted a staggering 95 percent in the January-March quarter due to losses related to its exit from the next-generation video HD DVD business.

Toshiba Corp.’s profit stood at 1.25 billion yen ($12 million), sharply down from 26.17 billion yen a year earlier.

”Our net profit sharply fell due to the end of HD DVD business,” Toshiba spokeswoman Hiroko Mochida said, adding the one-time for pulling the plug on its HD DVD business cost about 48 billion yen ($461 million)…