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Tencent Leads $80 Billion Rout as China Rekindles Crackdown Fear

Tencent Leads $80 Billion Rout as China Rekindles Crackdown Fear

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On December 22, Tencent Holdings spearheaded an unprecedented $80 billion downturn in China’s digital sphere, sparked by the unanticipated enforcement of fresh gaming restrictions. The announcement, issued by the top gaming regulator, aimed to curb excessive spending and time commitment within gaming platforms.

Tencent Leads $80 Billion Rout as China Rekindles Crackdown Fear

Image Source: business-standard.com

The new regulations encompass a spectrum of limitations, from capping individual in-game expenditures to prohibiting incentives for frequent log-ins and compulsive player challenges. This move evoked vivid memories of the 2021 tech industry crackdown, which disrupted sectors like e-commerce and education, deeply impacting companies like Ant Group Co. and Alibaba Group Holding Ltd.

Investor Bewilderment and Market Fallout

Tencent, along with counterparts NetEase Inc. and Bilibili Inc., witnessed staggering drops in market value, signaling investor concern about the unforeseen and ambiguous nature of the regulatory changes. Developers and designers flooded social platforms with confusion and outrage, particularly perturbed by the undefined spending caps that could severely impact revenue streams reliant on in-game purchases.

Lingering Apprehension and Industry Outlook

Industry analysts and market participants expressed apprehension about potential future measures targeting the internet sector, paralleling past stringent actions against various industries. The regulatory interventions, although ostensibly focused on gaming addiction and cultural preservation, sent shockwaves across investors and industry insiders, prompting concerns about the broader implications for market stability and growth.

The ambiguous wording of the regulations left stakeholders grappling with uncertainties, with the rules lacking clarity on their commencement and potential revisions based on public feedback. While Tencent’s reassurances about maintaining operational continuity provided some solace, skepticism prevails amidst fears of prolonged regulatory pressure on the digital landscape.

Also Read: Saudi’s Tabby Gets $700 Million Credit Line From JPMorgan

Impact on Global Gaming Paradigm

Beyond China’s borders, these developments might signal a shift away from the prevalent freemium model, potentially influencing international gaming policies concerning addiction and in-game spending. Analysts foresee a domino effect, prompting other countries to contemplate measures against addictive gaming practices.

The resilience or reversal of these stringent measures remains contingent on public response and ongoing discussions between stakeholders and regulatory bodies. As the industry braces for a potentially transformative phase, the implications of China’s regulatory stance on its colossal digital market will reverberate globally, influencing future gaming paradigms and regulatory frameworks.

Many PlayStation Users' Accounts Locked Out, Get Permanent Suspension Message From Sony

Many PlayStation Users’ Accounts Locked Out, Get Permanent Suspension Message From Sony

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In a surprising turn of events, a large number of PlayStation users have recently reported being unexpectedly locked out of their accounts. These users were greeted with alarming notifications of permanent suspension when attempting to access their PlayStation Network (PSN) services. This unexpected blockade has caused a lot of confusion and frustration among affected users.

Many PlayStation Users' Accounts Locked Out, Get Permanent Suspension Message From Sony

Image Source: gadgetmates.com

According to first-hand accounts, the suspension message appears without prior warning or explanation, leading many to speculate about potential security issues or system glitches within Sony’s network. The exact number of affected users is unclear, but social media platforms and online forums are full of discussions and reports from people affected by this issue.

Sony's Response

PlayStation’s parent company Sony has not yet released an official statement on the situation. This lack of communication has further added to the growing concern among the PlayStation community. Users are eager for clarity on whether these suspensions are the result of a technical error or if they stem from a more serious underlying problem.

Impact on the Gaming Community

The PlayStation Network, known for connecting gamers around the world and providing access to a vast library of digital games, is an integral part of the PlayStation experience. This unexpected disruption has significantly impacted many people’s gaming routines, causing disruption to online gaming, access to purchased content, and social interactions within the gaming community.

As the story develops, PlayStation users are demanding a quick and transparent response from Sony, hoping for a solution that will restore access to their accounts and shed light on the reason for these sudden suspensions. This incident is a reminder of the challenges and vulnerabilities inherent in digital and online gaming platforms.

TechCrunch Select Omnisient As One Of World’s Top 200 Game-Changing Startups

TechCrunch Select Omnisient as One of World’s Top 200 Game-Changing Startups

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In order to select the top 200 businesses to compete in their Startup Battlefield 200 contest at the yearly TechCrunch Disrupt event in San Francisco, USA, TechCrunch analysed over 3,000 early-stage startup nominations from across the world. The Startup Battlefield 200 is the premier startup competition in the world, where 200 businesses are given the opportunity to train and present to financiers along with TechCrunch editors. Participants in this season’s Startup Battlefield come from a variety of industries, including exploration of space, security, banking, and software as a service (SaaS).

TechCrunch Select Omnisient As One Of World’s Top 200 Game-Changing Startups
Image Source: techcrunch.com

“One of the cool advantages of being a first-party witness to the thousands of companies that come through our application pipeline every year is that we see emergent trends bubbling up far sooner than most do. It’s a huge privilege to be able to see the future this way and one of the most exciting parts of our job,” says Matthew Panzarino, Editor-in-Chief of TechCrunch.

techfinancials.co.za

With the help of cutting-edge cryptography, sophisticated analytics, and artificial intelligence (AI), Omnisient is the Data Collaboration service that enables Financial Services Institutions (FSIs) to use fresh consumer data sources safely and legally. Local banks are currently able to make use of retail consumer data from Omnisient’s platform to determine 3.2 million people as trustworthy who would have otherwise been turned down for credit owing to a lack of background information.

Speaking about the fintech category of the competition, Panzarino added, “Fintech is going deep over the next year building infrastructure in huge but un-addressed world economies rather than over-indexing on the western markets. Whatever holdover grip that foreign banking and social norms have on those systems is getting unravelled by startups that are creating new ways for populations in those markets to engage with finances.”

techfinancials.co.za

The Moscone Centre in San Francisco will play host to TechCrunch Disrupt 2023 from September 19 Tuesday, through September 21, Thursday,

Featuring more than 10,000 individuals attending, TechCrunch Disrupt is the premier event in the world for launching ground-breaking firms, showcasing groundbreaking innovations, and talking about what the greatest innovators in the tech sector are thinking about right now. This year, Disrupt brings together the smartest and greatest tech enthusiasts, investors, hackers, as well as entrepreneurs for communication, screenings, demos, and Startup Battlefield 200.

Read more: Japan’s Newest Billionaire is a College Dropout Who Built a Global Udon Noodle Empire

The event is renowned for showcasing the hottest businesses, revealing revolutionary technology, and talking about what the brightest minds in the tech sector are thinking about right now. Disrupt has previously seen the launches of businesses including Dropbox, Cloudflare,  Mint, Fitbit, as well as Yammer.

China Tech Giant Tencent's Revenue Disappoints Amid Weak Game Sales

China Tech Giant Tencent’s Revenue Disappoints Amid Weak Game Sales

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As a struggling economy hampered Tencent Holdings’ recuperation from the year’s record-breaking fall, revenue growth was lower than anticipated in the second quarter. Tencent Holdings is a Chinese social networking and gaming behemoth.

China Tech Giant Tencent's Revenue Disappoints Amid Weak Game Sales
Image Source: Bloomberg.com

The expansion of Tencent’s primary gaming division was less robust than anticipated in the January through June period. With fluctuations in currencies removed, domestic gaming income remained stable at 31.8 billion yuan whereas overseas revenue from gaming increased 12 per cent to 12.7 billion yuan.

James Mitchell, the business’s chief strategy officer, explained why the business decided to momentarily launch less socially impacting material in its second fiscal quarter as the cause of the video game industry’s poor growth during a conference call with investors.

The owner of the WeChat texting network and the biggest video gaming firm in the world, according to industry observers, is now facing intense rivalry from its rivals. According to an analyst at Blue Lotus Capital Advisors, Shawn Yang,  although Tencent’s fresh releases are up against fierce competition from other game developers like NetEase Inc. as well as miHoYo, its older blockbuster titles have provided subpar revenues owing to a lack of material.

 In the three months ending June 30, profit increased 11 per cent to 149.20 billion yuan which is approx $20.45 billion, falling short of the 151.73 billion yuan mean forecast of 21 analysts surveyed by Refinitiv. Little altered from the 10.7 per cent increase in the first quarter, the rise in revenue was stable.

Due to Beijing’s regulatory repression on the internet industry, Tencent reported its very first sales fall during the same period last year, which resulted in a decrease of one per cent in revenue.

Also Read:  X to Get Rid of Ability to Block Accounts, Owner Elon Musk Says

For China’s internet behemoths, like Tencent, regulatory anxiety has decreased this year as a result of Chinese officials’ desire to increase private sector trust. However, the world’s second-biggest economy has not grown since late last year, when COVID-19 limits were eased. In comparison to the same time in the previous year, net profit increased 41 per cent to 26.17 billion yuan. However, it was below the average expert expectation of 33.41 billion yuan.

One of the positive aspects was the income that came from web advertisements. As demand for its clip-sharing service similar to TikTok, Video Accounts expanded, jumped 34 per cent to 25 billion yuan. According to the firm, growth in both offline as well as online payment operations was the reason for the fifteen per cent rise in earnings from financial technology and business offerings to 48.6 billion yuan.

Qualcomm Smartphone

Qualcomm and Asus Partner to Launch ‘Smartphone for Snapdragon Insiders’

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After months of speculation, Qualcomm finally launched its first smartphone, the “Smartphone for Snapdragon Insiders,” in collaboration with Asus. This phone is literally for Snapdragon Insiders, a community of Snapdragon fans and enthusiasts who are the first to learn about new developments involving Qualcomm’s mobile processors. This new gaming phone is essentially a token of appreciation for the community. The Qualcomm phone boasts impressive specifications such as the Snapdragon 888 chip, 144Hz AMOLED display, and up to 16GB of RAM, earning it the title of a gaming phone.

The Qualcomm Smartphone for Snapdragon Insiders is a completely customized phone for people who know exactly what they want from their phone. This indicates the company’s top-tier processor, but it is surprising that Qualcomm did not opt for the Snapdragon 888 Plus processor, which is recently launched. According to Qualcomm, development on this phone began last year, while the Snapdragon 888 Plus was released earlier this year. The Snapdragon 888 Plus is supposed to be slightly better at handling graphics, but that’s about it. There isn’t much of a distinction between the vanilla and Plus variants. Nonetheless, the company has a processor tier higher than what this phone has.

Specifications of the Qualcomm Smartphone

The Qualcomm Smartphone for Snapdragon Insiders is a flagship phone that also happens to be the chipmaker’s first phone. Qualcomm has worked with Asus to make this phone a reality. This is due to the fact that Asus is one of the most well-known manufacturers of gaming phones. It’s ROG Phone series is the best-selling gaming phone on the market. It is powered by a Snapdragon 888 chipset with an Adreno 660 GPU. The phone supports both the mmWave and sub-6GHz 5G bands. The gaming phone has a 6.78-inch Full-HD+ AMOLED display with a refresh rate of up to 144Hz and a peak brightness of 1,200 nits. There is HDR and HDR10+ support, and the display is protected by a Corning Gorilla Glass Victus. There is 512GB of internal storage and 16GB of LPDDR5 RAM.

Qualcomm Smartphone for Snapdragon Insiders
Image Source: fdn.gsmarena.com

Qualcomm has used a 64-megapixel Sony IMX686 sensor on the primary camera, as well as a 12-megapixel ultrawide camera and an 8-megapixel telephoto camera, for photography. The AI Zoom feature on Qualcomm’s Spectra 580 image signal processor promises better photos and up to 8K-resolution videos. The phone has a 24-megapixel camera on the front for selfies and video calls. The phone has dual stereo speakers powered by Snapdragon Sound technology, as well as four microphones. The Qualcomm Smartphone for Snapdragon Insiders has a 4000mAh battery that can be charged in 52 minutes thanks to Quick Charge 5.0 technology.

Pricing of the Qualcomm Smartphone for Snapdragon Insiders

The Qualcomm Snapdragon Insiders Smartphone costs $1,499 (approximately Rs 1,12,200). There is only one model with 16GB of RAM and 512GB of storage. The phone will first be available in China, Germany, Japan, Korea, the United States, and the United Kingdom in August. The first wave will be followed by an India release. The India price is currently unavailable. Despite the fact that the phone appears to be exclusive to the Snapdragon Insiders community, it will be available for purchase to the general public. The gaming phone will be available in a single color: Midnight Blue.

Other Features

Qualcomm Smartphone for Snapdragon Insiders
Image Source: qualcomm.com

Qualcomm’s Smartphone comes with a pair of truly wireless earphones with active noise cancellation, dubbed Master & Dynamic Earphones. Master & Dynamic is an audio brand based in New York. A custom rubber bumper, which is essentially a rubber frame for the phone, is also included in the box. In the box, you’ll find a Qualcomm Quick Charge 5 power adapter as well as two USB-C to USB-C braided cables.

Samsung

Samsung Unveils Odyssey G3, Odyssey G5, and Odyssey G7 Gaming Monitors.

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The gaming monitors Samsung Odyssey G3, Samsung Odyssey G5, and Samsung Odyssey G7 have been unveiled. Samsung Odyssey G3 has 24-inch and 27-inch displays, Odyssey G5 has a 27-inch display, and the Odyssey G7 has a 28-inch display. The new gaming monitors, according to Samsung, provide “hyper-real picture quality, a higher response level, tailored ergonomics, and intuitive usability.” The Odyssey G5 and G7 are Nvidia G-Sync compatible, and all three gaming monitors are AMD FreeSync Premium compatible.

Following the release of the curved gaming monitor in 2020, Samsung now offers a variety of Odyssey flat-screen monitors ranging in size from 24 to 28 inches. The new lineup features hyper-realistic image quality, a higher response level, ergonomic design, and intuitive usability. With these new features, gamers can enjoy true-to-life colors, pinpoint accuracy, and lightning-fast response times for their PC and console gaming entertainment devices.

As the gaming industry continues to thrive around the world, the Samsung Odyssey has quickly become the number one choice among gamers looking for incredible picture quality and high performance in a single package. The expanded lineup now allows gamers to select a monitor that meets their specific preferences and play requirements.

Specifications for the Samsung Odyssey G3

The Odyssey G3 is ideal for anyone looking for a simple way to improve their game. Pixels change with near-instantaneous response thanks to the fast 144Hz refresh rate and 1ms4 (MPRT) response time, allowing for fast-paced action and responsive on-screen performance. AMD FreeSync Premium smooths out the action for seamless gameplay, allowing players to see games exactly as the designers intended. The G3 includes a height-adjustable stand to keep players as comfortable as they are immersed.

Samsung
Image Source: news.samsung.com

Specifications for the Samsung Odyssey G7

The Odyssey G7 combines enthralling visuals with next-generation performance for gamers. The G7 produces incredible colors with more contrast, deeper blacks, and brighter whites for spectacular depth and life-like detail, thanks to an Ultra High Definition (UHD) panel with a wide 178-degree viewing angle and HDR400. Players get real-world accuracy with a 4K industry-leading 144Hz refresh rate and ultra-low 1ms2 response time, as well as NVIDIA® G-SYNC® Compatible and AMD FreeSync Premium Pro. G7 offers high-quality consistency in every play thanks to HDMI 2.1 compatibility, which delivers maximum resolution and refresh rates for not only PC but also next-generation consoles with 4K 120Hz support. The G7’s signature CoreSync design extends game colors off-screen and into players’ real-world environments, providing world-blending immersion with a personal touch.

Specifications for the Samsung Odyssey G5

The Odyssey G5 is ideal for gamers who want to take their games to the next level on PC and next-generation gaming consoles. It is the first Odyssey to include a Quad High Definition (QHD) panel with a 165Hz refresh rate and a 1ms3 response time, as well as HDR10 for stunning graphics that are ready to play. G-SYNC Compatible and AMD FreeSync Premium boost performance to give you a stutter-free competitive advantage. Players can tilt, swivel, and pivot their monitor with a height-adjustable stand to create a fully ergonomic setup that is comfortable to play on for hours.

Picture-by-picture (PBP) and picture-in-picture (PIP) with flexible customization are also available on the Odyssey G5 and Odyssey G7 for improved multitasking. In addition, Samsung has added an Auto Source Switch+ feature, which allows users to switch between sources and instantly recognize and switch to the active input.