MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
The Japanese electronics maker had backed another high-definition video format, the HD-DVD, but seceded defeat last year, saying it will give up making or developing HD-DVD products.
There had been some speculation Toshiba may skip making Blu-ray products and instead try to develop an even more sophisticated video technology.
But Toshiba said it is planning to introduce Blu-ray products such as players and personal computers. Details were set to be announced later.
“In light of recent growth in digital devices supporting the Blu-ray format, combined with market demand from consumers and retailers alike, Toshiba has decided to join the BDA,” it said, referring to the Blu-ray association.
The Blu-ray alliance, backed by Japanese rivals Sony Corp., Panasonic Corp. and others, had been more successful in wooing Hollywood studios.
Some kind of decision from Toshiba had been expected ahead of the key year-end shopping season.
The move is reminiscent of Sony’s strategy after its Betamax videotape standard lost to Panasonic’s VHS in the 1980s. Sony ended up making VHS products.
The Blu-ray market could be too lucrative for Toshiba to pass up. The Japanese electronics maker racked up its biggest loss ever, 344 billion yen ($3.5 billion) in its last fiscal year, which ended in March.
Apart from home entertainment products, Toshiba is also a large maker of PCs, in which Blu-ray drives are slowly supplanting DVD drives. Without Blu-ray drives, Toshiba laptops could have lost out to other manufacturers.
MbS made the remarks at an annual speech to the advisory Shura Council, which he gave on behalf of his father, King Salman
His visit to Cairo aimed to salvage stalled negotiations mediated by Egypt, Qatar and the United States to end the conflict
The group accused Israel, which has so far refused to comment, as US denies involvement
Hundreds of pagers belonging to the armed group exploded in Lebanon on Tuesday, killed 12 people, including two children, and wounded up to 2,800 others
They view it as a pivotal move toward fostering inclusivity and diversity in corporate structures
Israel has not yet commented on the explosions
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the region