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Sony predicts cost of PlayStation Network hacking

by Steven Williamson on 23 May 2011, 12:24

Tags: Sony Computers Entertainment Europe (NYSE:SNE)

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The total cost of the PlayStation Network hacking could cost Sony over £100m, revealed the company in an investor's call today.

The PlayStation Network was hacked on April 18 leaving data of over 70 million user account vulnerable to fraud. In an investor's call, Sony Corporation says it can't put an exact figure on expected costs incurred by the security breach but it believes it will run to over £100m by the end of the 2012 fiscal year.

"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," said Sony.

Furthermore, Sony is predicted to run at a net loss of £1.9bn in 2011 because of deferred tax assets. This is in stark contrast to predictions early in the year, which claimed that the company would celebrate a profitable year.

Source: GamesIndustry


HEXUS Forums :: 10 Comments

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Presumably that doesn't include the cost of all those who have jumped ship to the 360.

I suspect that will be the greater cost in the end.
Well I just got a second hand PS3 for £100! Main reason for it isn't games though - iplayer + blu-ray with built in wifi. Thanks very much - Get little tv reception in study on tv and have no network ports so ideal). Saying this I'm sure I'll game on it a bit.
I wonder if that figure includes lost business on the Playstation store. With 70 million potential customers the loss there must run into tens of millions.
The total cost of the PlayStation Network hacking could cost Sony over £100m.


…Good!



F*****s
Now their servers on Canada have been attacked ..someone is out to get sony

http://www.kitguru.net/channel/event/harrison/sony-ericsson-servers-attacked-in-canada/