Hearing aid manufacturer hit by cyber attack slashes profits by $95 million

guest · Sep 27, 2019

Hearing aid manufacturer hit by cyber attack slashes profits by $95 million
September 26, 2019
https://www.grahamcluley.com/hearin...y-cyber-attack-slashes-profits-by-95-million/

Demant, the manufacturer of Oticon hearing aids, has said that it expects losses of up to 650 million kroner (approximately $95 million) following a cyber attack earlier this month.
The company’s servers suffered what it described as a “critical incident” on September 3, disrupting the production and distribution of its products.

Details remain sketchy, but the fact that the company shut down IT systems across multiple sites and business units around the world – and that they claim this helped contained the problem – suggest that the firm’s systems were infected by malware, potentially ransomware.

In a new press release issued today, Demant has shared more details of the operational and financial impact of the attack.
Reuters reports that shares in Demant have fallen 12% since the cyber attack was first reported on September 3, and fell almost 7% in early trading today.
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