Sony: PSN hack to cost approximately $170m
Company also warns of FY11 full-year losses of $3.1bn
Sony Corporation has warned that the PlayStation Network breach is to cost the company approximately ¥14 billion ($171.2m / £106.1m) by the end of the 2012 fiscal year.
The company was forced to close down its PSN online service last month after hackers compromised data of over 77 million user accounts. Later, Sony Online Entertainment's website was also hacked, bring the total number of breached gamer accounts to over 100 million.
"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.
Furthermore, Sony predicted a net loss for the entire 2011 financial year of ¥260 billion ($3.1 bn / £1.9bn) - compared to expectations in February that the company was on track to record a profit of ¥70 billion, blaming a write-off due to deferred tax assets.
For the full 2011 financial year Sony expects the Japanese earthquake and tsunami to wipe ¥17 billion from operating profits, and a further ¥150 billion from the fiscal year ending March 31, 2012.
Despite that, Sony said it anticipates a return to profitability in the 2012 financial year.
This being a one time write off for Sony seems similar. Instead of being about a currency exchange write off, it's deferred tax assets. Sony should also report to investors the FY figures before the write off....unless that's still in the red. Knowing actual figures without the one time impact will give investors a better idea of the health of the company.
Edited 1 times. Last edit by Chester Taylor on 23rd May 2011 6:53pm
but not updating your firewall and server software is sucky security anyway you paint it, and to be honest, someone with a bit of knowledge could with a tutorial to hacking old server/firewall software could of probly pulled off this attack, which is a sorry state of affairs, truth be told.
but not updating your firewall and server software is sucky security anyway you paint it, and to be honest, someone with a bit of knowledge could with a tutorial to hacking old server/firewall software could of probly pulled off this attack, which is a sorry state of affairs, truth be told.
No you can't. Encryption is only a small part of security and, while difficult, is not the most difficult part. The real challenge is to come up with a complete system that's hard to exploit from any location within it.
Bwuh? So the Wii and 360 hacks from years upon years ago were figments of my imagination? And the entire business model of R4-like cartridges for the DS?