Lite-On Europe has officially announced that they will be supporting both Blu-ray and HD-DVD. According to their press release, the company will have its BDP-X1 Blu-ray Disc player and HDP-Z1 HD-DVD player on display at this year's IFA.
On this year's IFA, from 1-6 September in Berlin, Lite-On will present its first High Definition playback devices. Besides a previously announced Blu-ray Disc player, Lite-On will also show an HD-DVD player. This means that in the "battle" of the two new formats, Lite-On takes a neutral position. Lite-On believes that both formats will stay in the market for some time, and therefore decided to support both. In the end, the market will decide which format, if any, will win.
Now we just need a player that supports both formats. No word on price. However, Lite-On is planning on launching the BDP-X1 and HDP-Z1 in the first half of 2007. If you'd like to read more, Lite-On's entire press release can be found here.