Following a week of shocking studio departures from the HD DVD camp, consumer electronics giant Toshiba is fighting back to keep its format alive by appealing to consumers with some major cuts to its HD DVD player prices.

Specifically, Toshiba is now set to reduce the normal price of its third generation 1080i-only HD-A3 player in half from $300 to $150, while the 1080p-capable HD-A30 and HD-A35 will be available for $200 and $300 respectively. Although this latest round of price cuts will be a welcome shot in the arm for the HD DVD camp, it may also be interpreted as desperation in light of Warner’s defection – not to mention persistent rumors that Paramount and Universal are also considering a shift to Blu-ray.

All in all, HD DVD still has the upper hand in affordability for the time being. Whether or not it will be enough to save the format remains to be seen, but it appears that Toshiba is not giving up without a fight.