Sony Loses $170m During PSN Hack

Sony Loses $170m During PSN Hack

Published On May 24, 2011 | By Lee Matthews | News

Sony Corporation has announced that the recent PlayStation Network breach will cost the company around ¥14 billion, $171.2m or £106.1m by the end of the 2012 fiscal year.

Due to an ‘external intrusion’ Sony was forced to shut down all Playstation Network services and during the downtime revealed that up to 77million accounts had been hacked and information possibly stolen. There month got worse as Sony Online Entertainment also found itself brought to a standstill by the intrusion and helped bring the total number of accounts hacked up to a monumental 100million.

“Based on information currently available to Sony, our current known costs associated with the unauthorised network access are estimated to be approximately 14 billion yen in the fiscal year ending March 31, 2012,” Sony told investors today.

What’s even worse is that before the intrusion Sony looked set to make a profit of¥70 billion but instead came out with a loss of¥260 million (although please note this not simply down to the PSN crisis). Despite all this the company has still said that they have no doubt Sony will return to profitability in 2012.

About The Author

Lee is an avid gamer, photographer, film buff and sports fan. A scaly brat since birth it only seemed right for him to join Her Majesties Armed Forces of which he has been a proud member ever since. Despite a long absence from gaming, during which he spent many a night reminiscing about the glory days on Halo 2, Matty is now back online smashing his way through Black Ops and soon enough Gears of War 3 and Battlefield 3.