The company has also admitted that it is srtuggling to compete in the consumer electronics market and that it has been affected by unexpectedly sharp declines in the selling price for LCD TVs. Matsushita Electric Industrial President, Kunio Nakamura, told business daily Nihon Keizai today that his company had no plans to sell its shareholdings in JVC parent company, Victor, but they were monitoring daily the compay's performance. JVC, which is sold in Australia by Hagemeyer, is also struggling in the camcorder and DVD recorder market, where it admits that ir has been impacted by a major drop in sales of DVD equipment, as well as quality issues.

Memorex, the number one North American retail provider of digital media, will add the highly anticipated Memorex High Definition DVD (HD-DVD) and Blu-ray formats to its industry-leading family of recordable optical media early this year. The high definition discs will feature Memorex's DuraLayer Technology, a special scratch-resistant hard coating that protects media from dust, debris and rough handling. Memorex HD-DVD and Blu-ray media both feature very large storage capacities and high data transfer rates, making them ideal for consumers interested in recording high definition TV shows, sporting events and movies in crystal-clear, high-definition resolution.

Consumer electronics firm Victor Co of Japan Ltd (JVC) said it now expects to post a bigger loss for the first half September than it originally thought, and that it is bound to incur a loss for the full year.

JVC developed a technology that puts standard and high definition data on the same disc. The single sided JVC disc has one BD (Blu-ray Disc) layer and two SD DVD layers.