2014 cyber attack to cost Sony US$35 million

The cyber attack against Sony Pictures Entertainment in 2014 will cost the company some US$35 million and affect its earnings.

In November last year Sony received a series of threats and its systems were hacked. The attack occurred a few months after the North Korean government public denounced Sony’s movie “The Interview,” an action-comedy flick about two journalists who set out to assassinate North Korean leader Kim Jung-un.

The Sony hack was inspired by the interview
The Sony hack was inspired by the script for “The Interview”

Sony earlier said investigation and remediation costs for the hack will total $15 million. However, Kazuhiko Takeda, senior general manager, of Sony said the cost will actually be $35 million for the fiscal year through March 31, according to a report in Computerworld.

Sony said money will primarily be used to restore the company’s “financial and IT systems.”

The cost will weight on Sony’s operating profit which is estimated at $460 million for the year ending March 31.

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Nestor E. Arellano
Nestor E. Arellano
Toronto-based journalist specializing in technology and business news. Blogs and tweets on the latest tech trends and gadgets.

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