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Sony posts worst loss in 16 years, loses $171m from PSN hack

updated 10:15 am EDT, Mon May 23, 2011

Sony fiscal year sees 3.2b loss and 171m for PSN

Sony revealed a major blow to its finances in an early warning regarding results for its latest fiscal year (PDF). The company said it had lost $3.2 billion in the 12 months ended March 31 through several factors. Its nearly month-long PSN outage due to hacks is now known to have cost the company $171.17 million, both through repairing the damage as well as free PS3 and PSP games and a month of PlayStation Plus access.

Most of the loss came from a $4.4 billion equivalent setting aside of tax assets to address worries about future results. The earthquake in the Tohoku area of Japan will also have cut into its performance through repairs and lost production. Slow TV sales affecting the whole industry, as well as a struggle to keep sales going for the PS3, PSP, and Walkman players, all of which are suffering due to Microsoft's Xbox 360, Nintendo DSi systems, and both Apple's iPhones and iPods.

Sony was more optimistic for the current fiscal year. It still expected a profit of about $2.4 billion even with the shortfalls from the past year.

The company isn't the only one in Japan to have suffered, as companies like Toshiba and Toyota have also risked supply issues. Companies outside of Japan have also faced trouble, as Apple and others face uncertain supply situations for hte parts they needed from the country. [via NYT]



By Electronista Staff
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