In a stunning move, Toshiba announced this morning in an official press release that they would no longer be producing HD DVDs or HD DVD players.

 

Official Press Release Here 

"We carefully assessed the long-term impact of continuing the so-called 'next-generation format war' and concluded that a swift decision will best help the market develop," said Atsutoshi Nishida,

I'm really, really surprised, but just hopes this helps move things along to being a Blu-Ray friendly world, where hopefully prices will drop. Surely manufacturers will now be able to bring the players and DVDs to every consumer at an affordable rate.

Now, don't go out and buy a Blu-Ray player, because there is a definite possibility that current generation Blu-Ray players will not play next generation Blu-Ray DVDs. PS3 users will have the ability to update their firmware to adapt to thew new, new Blu-Ray format, but others won't be so lucky.

That being said, I'm sticking with my beta max, for now.