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In a follow up to the first reports that we say yesterday, Reuters is now reporting that Toshiba will be pulling support for HD DVD. According to a company source within Toshiba they are, “planning to give up on its HD DVD format for high definition DVDs, conceding defeat to the competing Blu-Ray technology backed by Sony Corp.”

With all the recent trouble, the poor showing at CES along with Netflix, Best Buy and Wal-Mart pulling support this latest news is not coming as a surprise. The official announcement is expected to come next week.

“We have entered the final stage of planning to make our exit from the next generation DVD business,” said the source, who asked not to be identified.

Just a few things left to wonder about, what will happen with the HD DVD early adopters, will we see a cult like following start to pop-up and just how soon will we see a rush of Blu-ray players sales.

Read [Reuters]