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

A simple cure for impostor syndrome

Opinion: It's time to stop hero-worshipping and start figuring out what greatness looks like to...

I was hired to fix Uber’s toxic culture - and I did. Here’s ...

Harvard’s Frances Frei reveals how you know when your values have gone rotten, and what...

Social responsibility may no longer be a choice

Editorial: Having securitised businesses’ loans and paid their wage bills, it’s not inconceivable the government...

What went wrong at Wirecard

And how to stop it happening to you.

Leadership lessons from Jürgen Klopp

The Liverpool manager exemplifies ‘the long win’, based not on results but on clarity of...

How to get a grip on stress

Once a zebra escapes the lion's jaws, it goes back to grazing peacefully. There's a...