This item on Om Malik's blog is interesting, especially in light of the recent EU decision. We appear to be heading into a fragmented technology marketplace, with two competing technologies in South Korea, one in Europe, and another which appears to be a winner in the US (see this).
Update (2007-7-26): You might also enjoy this article in BusinessWeek, which discusses this topic in a bit more detail.
Does it matter that there may be several global standards? If so, why do you think so?