Toshiba quits HD DVD 'format war'

TOKYO, Japan (CNN) -- Toshiba said Tuesday it will no longer manufacture HD DVDs, effectively ending the long-running battle with the rival Blu-ray for a dominant high-definition format

Toshiba said it made the decision to cease developing, manufacturing, and marketing HD DVDs after "recent major changes in the market." It promised to continue offering support and service for all existing Toshiba HD DVD products.

"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," Toshiba President and Chief Executive Atsutoshi Nishida said in a news release.

Toshiba's HD DVD business has been suffering recently with a string of major retailers and rental companies announcing their preference for Blu-ray, developed by Sony.