Sony slides to $3.2bn loss
May 23, 2011
Sony says it expects an annual loss of $3.2 billion after previously predicting a $860 million profit return to profit in the financial year to the end of March. The firm has been hit recently by the Japanese earthquake and tsunami, and a series of computing hacking attacks.
The earthquake and tsunami hit plants in north-east Japan, which affected the firm’s supply chain, and in the wider economy led to fall in consumer spending.
Cyber attacks on PSN and Qriocity involved the theft of personal data that included names, passwords and addresses from more than 100 million accounts. It now says said the data breach will result in a $170 million drain, at least, on operating profits in terms of insurance and damages costs.