New York - Japanese consumer electronics firm Toshiba on Monday announced that it will dramatically cut prices on its range of next-generation HD DVD players, in a bid to counter recent momentum from rival Sony's (NYSE: SNE) Blu-ray format. "While price is one of the consideration elements for the early adopter, it is a deal-breaker for the mainstream consumer," said Yoshi Uchiyama, group vice president for Toshiba's digital A/V group.

"Consumer sales this holiday season have proven that the consumer awareness of the HD DVD format has been elevated and pricing is the most critical determinant in consumer's purchase decision of the next generation HD DVD technology."

Toshiba America Consumer Products said its entry-level player will now cost $149, down from $299, while a mid-range model was reduced in price from $399 to $199 and Toshiba's high-end player will now sell for $299, down from $499.

Last week, Warner Bros. dropped support for HD DVD in favor of Sony's Blu-ray format; currently, studio support for HD DVD includes Universal, Paramount and DreamWorks.

Related Links:
http://www.tacp.toshiba.com/news/newsarticle.asp?newsid=194