Subscribe via RSS FeedUpdates to your inbox

Sony PSN Hacking & Outage: Down Time Could Cost Sony Billions

May 10, 2022 | Debbie Turner

We’ve been bringing you all the latest news and developments about the Sony PSN hacking and outage and know how many of you feel let down and angry by the whole fiasco. It probably won’t make you feel any better about the current lack of the PlayStation Network but it seems that the down time could cost Sony billions.

A couple of our recent articles have looked at whether users feel they can trust Sony again, and also about rebuilding the brand when the PSN is back online and now we’re concentrating on what the security breach will cost Sony in monetary terms. Analysts are speculating that the total cost will be billions, with one analyst Nobuo Kurahashi of Mizuho Investors Securities estimating the cost will reach around 100 billion Japanese yen, that’s around £760 million (US $1.2 billion) according to Tom Ivan of CVG.

Kurahashi said “It could take months for the security woes to settle, and how this may affect consumer confidence in Sony’s online services in a long run is harder to assess.” Yet another analyst, Barclay’s Capital’s Yuji Fujimori forecasts an even higher cost to Sony of around 220 billion Japanese yen or £1.7 billion (US$2.7 billion). Meanwhile the The Wall Street Journal reported Sony spokeswoman Kumie Tanaka as saying that the company has yet to assess the total impact of hacking and subsequent down time.

Meanwhile it shouldn’t be forgotten that the incident is also affecting Capcom, Activision and other business partners of Sony and an article over on ZDNet tells more about the possible cost to Capcom. What are your thoughts on how much this cyber attack will end up costing Sony? Do you have any sympathy at all for the company or maybe you feel completely differently? Let us know with your comments.

Follow us on Facebook and Twitter

Read More: , , , ,

Related Stories

  • Awder Yasin

    surely we are upset about this cost,and i will love ps3 and sony forever,and you will be better to making psn better in iraq,kurdistan because there are alot player love sony and have believe in them,and make it fix as soon as posible,thanks.

  • fjjhkd

    Hury the f up