Philips debuts $349 Blu-ray video player

Royal Philips Electronics NV on Sunday said it would introduce a Blu-ray high-definition video disc player for $349 in April.

The BDP7200, introduced ahead of this week's International Consumer Electronics Show in Las Vegas, plays back video at a resolution of 1,080p, the highest resolution available today. The device also features BD-Java technology, which supports more sophisticated interactive features.

BDP7200 also comes with a picture-in-picture feature.

Blu-ray -- the high-definition video format that competes with HD DVD -- got a win last week when Warner Bros. Entertainment said it would stop releasing its movies on HD DVD, opting instead to stick with Blu-ray.

Only two major U.S. studios now support HD DVD, while five support Blu-ray.