The rumors were true. Japanese news source NHK (english translation and Reuters validation) is reporting that Toshiba is planning to drop support of HD DVD, striking a final blow to the format and conceding victory to Blu-ray. The Sony-backed high-definition disc has been gaining strides for some time, most notably after Warner Bros switched to Blu-ray exclusively. Toshiba is expected to face hundreds of millions of dollars in losses.
The so-called "format wars" seems to be at an end, and now we're left to ponder about the future, such as how big is the office party Sony is throwing in honor of its victory? More related to video games, might we see a future Blu-ray add-on (and subsequently rumors of a built-in drive) for the Xbox 360?
[Via Engadget; thanks to everyone who sent this in!]