Reports: Toshiba to Give Up on HD DVD

Sony(SNE Quote) and its Blu-ray technology are close to victory in the high-definition DVD format war, according to media reports.

Rival Toshiba is planning to throw in the towel on its HD DVD format, according to a Reuters report citing an anonymous company source. Earlier, Japanese broadcaster NHK reported Toshiba was close to giving up on HD DVD.

Toshiba's technology has suffered several recent defeats. For example, Wal-Mart(WMT Quote) announced Friday that it would start selling only Blu-ray movies, while last month Warner Bros. Entertainment decided to make Blu-ray its exclusive high-definition format.

If Toshiba abandons its HD DVD push, it could accelerate consumer adoption of high-definition DVDs. Remembering the VHS-Betamax videotape format war, many consumers have balked at buying into the new technology out of fear that they'll choose the losing format. DVD players using one of high-definition formats are unable to play discs made with the other standard.

Shares of Sony closed Friday down 10 cents at $44.78.