'No decision has been made yet,' claims firm.
Global newswires have been flooded with reports that Toshiba is preparing to end to its support of HD-DVD.
However, an early morning statement from the company suggests that the deal may not be done and dusted quite yet.
"The media has reported that Toshiba will discontinue its HD-DVD business. Toshiba has not made any announcement concerning this," the company said.
"Although Toshiba is currently assessing its business strategies, no decision has been made at this moment."
Last week it emerged that the format war is holding back DVD sales. The latest Consumer Behaviour Report from PriceGrabber.com shows that consumers are "indecisive" because of the ongoing battle between the rival formats.
Consumers are expected to stick to traditional DVD and VHS players until either Blu-ray or HD-DVD takes a clear lead.
Warner Bros' recent withdrawal of support for Toshiba's HD-DVD format has intensified the debate as to whether Blu-ray or HD-DVD will dominate.
The survey results revealed that 54 per cent of those who anticipate buying a high-definition product in the next year will pick a Blu-ray player over an HD-DVD player, a standard DVD player and integrated video game consoles.
Meanwhile, 37 per cent of men and 42 per cent of women surveyed do not anticipate purchasing any high-definition product in the near future.