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PSN hack to cost Sony $171.2 million

Sony Corporation has revealed that it is looking at an estimated cost of approximately 14 billion yen ($171.2m / £106.1m) as a result of the "external intrusion" on PlayStation Network last month.

The online service was infiltrated by hackers in mid-April which resulted in millions of users’ personal information being compromised. The perpetrators later attacked Sony Online Entertainment’s website, bringing the total number of user accounts breached to over 100 million.

Speaking to investors today, the electronics giant commented, "Based on information currently available to Sony, our current known costs associated with the unauthorised network access are estimated to be approximately 14 billion yen in the fiscal year ending March 31, 2012.”

In addition, Sony also predicted a net loss of 260 billion yen for the entire 2011 financial year. Reports in February had the console maker poised to record a profit of 70 billion yen during the same period.