Stat of the day: $3.2bn

The amount Sony expects to have lost in the year to March.

by Elizabeth Anderson
Last Updated: 09 Oct 2013
Sony expects to report a loss of $3.2bn (£2bn) for the financial year to the end of March. Just a few months ago the Japanese electronics giant predicted it would make a $860m profit, so clearly something’s gone wrong…

Part of its misfortunes come from the earthquake in Japan. Sony estimates the disaster, which disrupted supply chains heavily, cost it 22bn yen ($269m) in lost sales. Then came the attack on its PlayStation Network, which left 100m users’ personal data compromised and cost the company £100m to fix. That seriously dented the PlayStation’s reputation, which is something it could have done without, especially as the console is up against stiff competition from the likes of the Xbox.  

It’s not all bad news, though – when the company announces its full-year earnings on Thursday, operating profit is expected to be around 200bn yen ($2.4bn), in line with expectations. So things should pick up. Assuming there aren’t any more disgruntled hackers out there, that is.

Find this article useful?

Get more great articles like this in your inbox every lunchtime

What's the most useful word in a leader’s vocabulary?

It's not ‘why’, says Razor CEO Jamie Hinton.

Lessons in brand strategy: Virgin Radio and The O2

For brands to move with the times, they need to know what makes them timeless,...

Why collaborations fail

Collaboration needn’t be a dirty word.

How redundancies affect culture

There are ways of preventing 'survivor syndrome' derailing your recovery.

What they don't tell you about inclusive leadership

Briefing: Frances Frei was hired to fix Uber’s ‘bro culture’. Here’s her lesson for where...

Should you downsize the office?

Many businesses are preparing for a 'hybrid' workplace.