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LG Electronics set to debut first dual-mode HD DVD/Blu-ray player

South Korean electronics giant LG Electronics. Inc. announced Thursday their intention to develop the worlds first Optical Disc Player capable of supporting the two competing disc formats — Blu-ray and HD DVD.

LG will debut the player next week at the Consumer Electronics Show in Las Vegas. The company had originally planned to release models for each format, but decided against that approach, fueling speculation that they were moving in this direction towards a dual player.

The new model will hit the U.S. market during the first quarter of this year, with LG adding that they will announce a timeframe and price point for the device during CES.