Along with the expected losses Toshiba has just posted for the past financial year came the surprising news that it intends to make up for embarrassments caused by HD DVD and its failing chip business by gunning for the LCD TV big boys.

The Japanese electronics firm said it wants to top 10 per cent of the worldwide market for LCD TV sets by March 2011 – a 2 per cent jump from the current situation.

Sony has other ideas

Should the Toshiba plan succeed, it would represent a major surprise after market-leading Samsung and Sony have both publically committed to carving out even bigger shares for themselves.

Toshiba's chip business posted a loss of ¥30 billion (£153 million) in the last fiscal year, while its expensive failure to push HD DVD ahead of Blu-ray in the HD TV race left it with more than a little egg on its face.