Connect with us

Tech

Lawsuit alleges CDPR misled investors about Cyberpunk 2077 issues

Published

 on

Lawsuit alleges CDPR misled investors about Cyberpunk 2077 issues

An investor filed a lawsuit against developer and publisher CD Projekt Red (CDPR), alleging the company failed to tell investors the recently released Cyberpunk 2077 was “virtually unplayable.”

Plaintiff Andrew Trampe hopes to bring other investors on board with the lawsuit, which would make it a class action. The suit alleges that CDPR misled investors about the state of Cyberpunk, instead marketing it as a success with only a few minor issues.

According to Bloomberg, CDPR says it will “vigorously” defend itself against the lawsuit.

Cyberpunk 2077 launched in a bad state with numerous bugs, glitches and other issues. While some platforms fared better than others, the issues were pervasive across gaming platforms. Older consoles got the worst of it — Cyberpunk was basically unplayable on PlayStation 4 and Xbox One consoles. Sony opted to pull the game from the PlayStation Store, and many retailers adjusted refund policies to allow dissatisfied customers to return the game.

On top of that, CDPR launched a campaign to help customers get their money back if a retailer chose not to help them.

Despite the controversy around Cyberpunk, CDPR recently estimated that it sold 13 million copies across all platforms. That estimate included most returns as well as the over 8 million pre-orders Cyberpunk received. The Verge notes that those figures make Cyberpunk one of the best selling games of the year, plus CDPR said earlier in December that it already recouped the game’s development costs.

Source: The Verge, Bloomberg

Source: – MobileSyrup

Source link

Continue Reading

Tech

Britain in talks with 6 firms about building gigafactories for EV batteries

Published

 on

Britain in talks with 6 firms about building gigafactories for EV batteries

Britain is in talks with six companies about building gigafactories to produce batteries for electric vehicles (EV), the Financial Times reported on Wednesday, citing people briefed on the discussions.

Car makers Ford Motor Co and Nissan Motor Co Ltd, conglomerates LG Corp and Samsung, and start-ups Britishvolt and InoBat Auto are in talks with the British government or local authorities about locations for potential factories and financial support, the report added .

 

(Reporting by Kanishka Singh in Bengaluru; Editing by Himani Sarkar)

Continue Reading

Business

EBay to sell South Korean unit for about $3.6 billion to Shinsegae, Naver

Published

 on

eBay Sells Classifieds Business For Nearly  Billion – WebProNews

EBay will sell its South Korean business to retailer Shinsegae Group and e-commerce firm Naver for about 4 trillion won ($3.6 billion), local newspapers reported on Wednesday.

EBay Korea is the country’s third-largest e-commerce firm with market share of about 12.8% in 2020, according to Euromonitor. It operates the platforms Gmarket, Auction and G9.

Shinsegae, Naver and eBay Korea declined to comment.

Lotte Shopping had also been in the running, the Korea Economic Daily and other newspapers said, citing unnamed investment banking sources.

South Korea represents the world’s fourth largest e-commerce market. Driven by the coronavirus pandemic, e-commerce has soared to account for 35.8% of the retail market in 2020 compared with 28.6% in 2019, according to Euromonitor data.

Shinsegae and Naver formed a retail and e-commerce partnership in March by taking stakes worth 250 billion won in each other’s affiliates.

($1 = 1,117.7000 won)

 

(Reporting by Joyce Lee; Editing by Edwina Gibbs)

Continue Reading

Tech

Canada launches long-awaited auction of 5G spectrum

Published

 on

Canada launches long-awaited auction of 5G spectrum

Canada is set to begin a hotly anticipated auction of the mobile telecommunications bandwidth necessary for 5G rollout, one that was delayed more than a year by the pandemic.

The 3,500 MHz is a spectrum companies need to provide 5G, which requires more bandwidth to expand internet capabilities.The auction, initially scheduled for June 2020, is expected to take several weeks with Canadian government selling off 1,504 licenses in 172 service areas.

Smaller operators are going into the auction complaining that recent regulatory rulings have further tilted the scales in the favour of the country’s three biggest telecoms companies – BCE, Telus and Rogers Communications Inc – which together control around 90% of the market as a share of revenue.

Canadian mobile and internet consumers, meanwhile, have complained for years that their bills are among the world’s steepest. Prime Minister Justin Trudeau’s Liberal government has threatened to take action if the providers did not cut bills by 25%.

The last auction of the 600 MHz spectrum raised C$3.5 billion ($2.87 billion) for the government.

The companies have defended themselves, saying the prices they charge are falling.

Some 23 bidders including regional players such as Cogeco and Quebec’s Videotron are participating in the process. Shaw Communications did not apply to participate due to a $16 billion takeover bid from Rogers. Lawmakers and analysts have warned that market concentration will intensify if that acquisition proceeds.

In May, after Canada‘s telecoms regulator issued a ruling largely in favour of the big three on pricing for smaller companies’ access to broadband networks, internet service provider TekSavvy Inc withdrew from the auction, citing the decision.

Some experts say the government has been trying to level the playing field with its decision to set aside a proportion of spectrum in certain areas for smaller companies.

Gregory Taylor, a spectrum expert and associate professor at the University of Calgary, said he was pleased the government was auctioning off smaller geographic areas of coverage.

In previous auctions where the license covered whole provinces, “small providers could not participate because they could not hope to cover the range that was required in the license,” Taylor said.

Smaller geographic areas mean they have a better chance of fulfilling the requirements for the license, such as providing service to 90% of the population within five years of the issuance date.

The auction has no scheduled end date, although the federal ministry in charge of the spectrum auction has said winners would be announced within five days of bidding completion.

($1 = 1.2181 Canadian dollars)

 

(Reporting by Moira Warburton in Vancouver; Editing by David Gregorio)

Continue Reading

Trending