Sony Shares Drop after PSN Disaster

Posted on May 7 2011 - 3:15pm by Thomas Sharp

The fallout from the Sony PlayStation network hacking disaster carries on, and now it has had a negative impact on the firm’s share prices.

Share trading in Japan has just started again after the country’s rather cool sounding Golden Week holiday period, and after a dismal drop of over 4% the Sony shares recovered a little to end up almost 2 and a half percent off then at the start of trading.

Not a huge impact then, but analysts in Japan are reportedly still concerned that the ongoing problem could cause an online drop in Sony profits due to the loss of customer confidence in them.

The PSN network is still offline and 77 million users are still left wondering whether some dodgy geezer is trying to get up to all sorts of naughty stuff with their personal details.

There have been plenty of apologies from Sony bosses in recent days but that hasn’t stopped customers, the media and even US senators asking for more details on what exactly went wrong with the firm’s security.

So far we know that the fingers from Sony are pointing directly at the online group Anonymous, although they are denying that it had anything to do with them. The discovery of the phrase “we are legion” – which is heavily used by Anonymous apparently – led Sony investigators to their door but they are making it clear that they are not accepting the responsibility for the hack.

Have you lost confidence in Sony because of this or do you think that too much criticism is unfair?

1 Comment so far. Feel free to join this conversation.

  1. guest May 7, 2011 at 3:40 pm - Reply

    Seriously? How much did Xbox suffer for calling it's red ring of death customers liars for 3 months, then saying they were not going to fix it, then saying there was never a problem, then refusing to replace more than 1 game, then 3, then none, then 3, and finally, this is golden, THEY STILL HAVE THE RROD PROBLEM.

    Not trying to rag on xbox here, but if customers did not make them suffer, there is no way they will make sony suffer

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