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Cyberpunk 2077 troubles cost CD Projekt founders more than $1bn – GamesIndustry.biz

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The tumbling share price of CD Projekt has cost the Cyberpunk studio’s founders more than $1 billion in wealth.

That’s according to Bloomberg, which reports the value of the 34% stake held by the Polish developer’s four founders was down to $3 billion yesterday.

The four major stakeholders are joint-CEOs Adam Kiciński and Marcin Iwiński, chief financial officer Piotr Nielubowicz, and former joint-CEO Michał Kiciński.

CD Projekt’s share price has been falling since December 4, dropping 30% from a high of PLN 443 per share to PLN 310.6 at the time of writing.

Shares continued to fall after launch, dropping 21% from PLN 395.8 to PNL 296.1 on Monday.

The decline in share price has been attributed to spreading reports of bugs and glitches in the game, as well as performance issues on last-gen consoles PlayStation 4 and Xbox One. Initial review scores were lower than shareholders expected, despite initially amounting to a Metacritic rating of 91.

Cyberpunk 2077 also received negative press over aspects that trigger epileptic seizures.

An emergency conference call was held with shareholders on Monday to address questions around the troubles Cyberpunk has suffered at launch. Management, including three of the four aforementioned founders, reiterated their hope to address all issues with patches in January and February.

The execs did not give an update on plans for DLC and the multiplayer, which will be key to the future of both Cyberpunk 2077 and the studio, but promised more information in Q1.

Since then, shares have risen by almost 5%.

The game’s issues on last-gen consoles prompted an apology from CD Projekt and an offer of refunds, although there now appear to be inconsistencies in how those refunds will be processed.

At the time of writing, CD Projekt’s share price remains 33% lower than its record high of PLN 460.8 back in August, just after the company announced a Pokémon Go-style game based on The Witcher.

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Apple Faces Lawsuit in Italy Over iPhone Battery Life – The Deep Dive

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It appears that Apple is in hot water once again, this time about making misleading claims regarding the battery life of older iPhones.

Altroconsumo, an Italian consumer organization, on Monday announced it has filed a class-action lawsuit against Apple, alleging the iPhone manufacturer of planned obsolescence. The association is seeking $73 million in damages, after Italian consumers were allegedly mislead regarding the battery life of older iPhone models, specifically the iPhone 6 and 6 Plus, 6S, and 6S Plus. Sales of the iPhone models in Italy totalled over 1 million between 2014 and 2020.

In an emailed response to the lawsuit, Apple maintains that it has not done anything intentional to reduce the lifespan of its products, or diminish the user experience in order to increase consumer upgrades. However, this is not the first class-action suit of its kind: similar lawsuits were previously filed in the US, claiming that the iPhone manufacturer purposefully created software updates that reduced the performance of older devices.

In November 2020, Apple agreed to pay US$113 million to settle the case with several US regulators. In the meantime, US consumers are still awaiting the results from a US court regarding a class-action settlement worth up to US$500 million.


Information for this briefing was found via Bloomberg and Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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You Can Take Shawn Mendes or Dolly Parton on Your Walk With New Apple Fitness+ Feature – Billboard

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“I’ve loved walking ever since I was a little girl in the Smoky Mountains,” Parton said in the official Apple press release. “I think it’s so important to be able to get out and walk if we can during this time. I do my best thinking when I walk. And while many of us feel confined during this time, I’m hopeful that people will take a walk down memory lane with me and we can all feel a little more freedom taking the time to walk together.”

“Taking a walk is a great way to clear your mind,” Mendes said in the release. “It’s the most simple thing you can do to calm the body and soul, reflect, and slow down. I hope people get to feel the same sense of calm I do while walking and can bring that to their own experiences.”

Fitness+ subscribers can enjoy Time to Walk episodes on their Apple Watch with AirPods or other Bluetooth headphones. New episodes will automatically appear on the Workout app on Apple Watch and on the Fitness+ tab in the Fitness app on the iPhone. Apple Watch users who use a wheelchair will have access to Time to Push, which automatically starts an Outdoor Wheelchair Walk Pace workout.

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Apple shifts hardware execs as mysterious new project looms – MobileSyrup

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Dan Riccio, who has worked as Apple’s senior vice-president of engineering since 2012, is stepping back from leading Apple’s hardware division.

In a recent press release, Apple confirmed that Riccio is working on a mysterious “new project” and will continue to report directly to Tim Cook, its CEO. Riccio has worked on several notable projects, including Apple’s ARM-based M1 processor, the AirPods Max, the iPhone 12 and even the original iMac.

“Working at Apple has been the opportunity of a lifetime, spent making the world’s best products with the most talented people you could imagine,” said Riccio in a recent press release.

“After 23 years of leading our Product Design or Hardware Engineering teams — culminating with our biggest and most ambitious product year ever — it’s the right time for a change. Next up, I’m looking forward to doing what I love most — focusing all my time and energy at Apple on creating something new and wonderful that I couldn’t be more excited about.”

It’s unclear what this new initiative is, but there’s a possibility it could relate to recent rumours surrounding Apple’s long-rumoured AR/VR glasses or possibly its electric car project.

John Ternus will take on Riccio’s former role of senior vice-president of engineering. Ternus has served as Apple’s VP of hardware engineering since 2013 and played a significant role in the release of the first iPad and, more recently, the first-generation AirPods.

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