PSN Hack To Cost Sony Approximately $170 Million

May 23, 2011, By Christian Davis

The recent break of Sony’s Playstation Network has put strain on gamers and the company. The lack of any online functionality for over a month is something that nobody will forget for some time and the cost of it all will permanently be tattooed on Sony’s mind. The total cost of the hack put a 14 billion Yen($170 Million) price tag on Sony.

“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,” the company told investors today.

That’s quite a big number, but what’s even worse is that Sony predicts a net loss of 260 billion Yen($3.1 billion) for the 2011 fiscal year. A huge blow in their finances to say the least.

Despite the losses, Sony expects the company to be back in profitability in the 2012 financial year. That’s still several months away and it’s unfortunate that the breach affected both the company and gamers so greatly.

 

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