Sony Continues to “Sony” and Predicts a $3.2 Billion Loss
Is it okay to use “Sony” as a verb for “having only horribly bad news to report to the public for months at a time” yet? Anyway, as Sony prepares for their fiscal year 2010 earnings report this Thursday, they’ve released a few numbers to brace their investors for the grim financial future of the company. They’ve revised the forecast to include a $3.2 billion loss for the twelve months ending March 31, 201. A portion of that loss can be attributed to the ripple effect of the April hackings. They predict that somewhere amid their welcome back programs, rebuilding an online (and secure!) infrastructure and legal fees will cost them $171 million.
Speaking about the hacking, Sony stated that, “So far, we have not received any confirmed reports of customer identity theft issues, nor confirmed any misuse of credit cards from the cyber-attack.” The company then added, “Those are key variables, and if that changes, the costs could change.”
Hopefully this is the end of Sony’s problems, not that we feel bad for the mega corporation, but we’re running out of clever things to say about this entire situation.
[via Joystiq]
You know how they say you gotta spend money to make money. I dunno maybe if Sony spent money making a secure online infrastructure this whole disaster and $3.2 billion in loss could’ve been avoided.
Maybe this will teach them and other companies that doing everything possible to make profits constantly can backfire if you don’t spend money to protect your customers and yourselves in order to protect the profits you do make.
As long as they pave the way for future systems and other hardware to be successful, it could be an acceptable loss on Sony’s part. I totally agree that ALL companies need to learn from this though, security should be a top concern in the minds of Multi-billion dollar companies, because they can always be hacked, no matter what.