Toshiba gearing up to drop HD DVD?

We're not exactly sure what's going on in Toshiba land, but shortly after not-exactly-believable whispers made the rounds of the firm suddenly deciding to try its hand at making a Blu-ray player, we're now seeing reports stating that it will pull the plug on its beloved format "in the coming weeks." Citing unnamed industry "sources," The Hollywood Reporter is suggesting that the end may be nigh for the HD DVD format. Jodi Sally, VP of marketing for Toshiba America Consumer Products, was quoted as saying that "given the market developments in the past month, Toshiba will continue to study the market impact and the value proposition for consumers, particularly in light of its recent price reductions on all HD DVD players." Of course, we aren't exactly equating said statement to waving the white flag or anything, but whatever the case, it seems the death watch is in full effect.

[Via Home Media Magazine, thanks to everyone who sent this in]