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BTC, ETC Hit With Losses as Overall Crypto Market Cap Drops By 0.86 Percent in 24 Hours

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Crypto Market

Believably, 24 hours can change and alter many things and it seems the recent case with crypto price. After recording subsequent growth in the price for 5 continuous days the crypto price chart showed a price dip, on November 3rd, resulting in the most altcoins losses, including BTC (Code term for Bitcoin), ETC (Code term for Ethereum Classic). It was estimated that the overall crypto market cap dropped by 0.86 percentage within 24 hours. and the evaluated value stands at $1.01 trillion, roughly around Rs. 83,67,357 Cr. It is further witnessed that only a handful of cryptocurrencies opened with profits on November 4th.

It was tracked that Bitcoin opened with a price dip of 0.86 percent. In India, BTC price stands at roughly Rs. 16.8 lakh. At first every altcoins also registered losses on international exchanges. BTC values are stagnating around roughly Rs. 16.7 lakh after registering the losses of up to 0.90 percent. Moreover, the Ether price chart exhibited a dearth in the graph and followed Bitcoin into losses. With a price drop of 2.68 percent; currently, ETH is trading at around Rs. 1.28 lakh.

These decenteralized cryptocurrencies, such as Bitcoin and Ethereum Classic, are regulated without the oversight of a central authority as they are operated via blockchain technology that promises long term profits with immense security. Bitcoin is recognized as the first decentralized cryptocurrency, belonging to a digital asset that uses public-key cryptography to record and perform transactions. Ethereum was designed in a manner to allow developers to fabricate customizable applications as a mindful effort to expand the efficiency of cryptocurrencies.

As investors are continuously investing into such digital currencies. After checking the token price, Market cap is among the first aspects investors gauge upon, while evaluating digital assets, as It is believed to be the safest and promising realm to calculate the fortunes of a particular project. This decentralized regulation of every altcoins adds to the security purchase and possesses the confidence of the investors. However, scams and ponzi schemes are hindering the absolute confidence of the investors, as no function is free from a loophole such as the operations and administration of decentralized cryptocurrency and the reported scams result in the liquidations. It can be said, the entire concept of cryptocurrency is still new to people, thus misconceptions and comprehension for the same can be challenging in times.

Conclusion

Crypto Market

The market cap dip to a certain percentage is not registered for the first in the year 2022, crypto price tracker has observed numerous soars and plummets in the prices of all altcoins during the last quarter of the year. Poor economic blows can also be accountable for keeping the price low; however, there are some assumptions towards the hovering price of the cryptocurrencies that can be the sweet reason for headstrong reliance of long-term investors, unbothered by red flags in the economy.

Read More:
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Cryptocurrency discussions find a new home at Leher App
Meta working on its own digital currency ‘Zuck Bucks’, which isn’t likely a cryptocurrency

Huawei Pocket S Live Renders, Specifications Leaked Ahead of Launch

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Team My Mobile
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Huawei Pocket S

On 2nd November 2022, the Huawei Pocket S mobile was launched in China.

Interestingly, just a few hours before its scheduled launch hour, live photographs and detailed specifications and features of the foldable smartphone have leaked online on a few websites.

The company didn’t show much reluctance towards the image and specification leak issues and proceeded with the launch ceremony as planned. However, these incidents are sometimes also promoted for business purposes to make the audience tempted towards the upcoming product and make them keen to look forward to its launch.

Whatever the case, the Huawei Pocket S has been launched, and its pre-orders have already started. Here’s a list of all the essential features of the much-anticipated smartphone.

The features and specifications of the Huawei Pocket S mobile

The device offer a 120 Hz refresh rate and a 6.90-inch touchscreen primary display with a resolution of 1180×2790 pixels and a 1.04-inch touchscreen as its secondary display with 340×340 pixels resolution. However, while the display features look pretty tempting, there are many more edges to the newly launched smartphone compared to its previous model.

The device has a dual rear camera setup with a 40-megapixel primary camera and a 13-megapixel secondary camera. However, it only has one front camera with a 10.7-megapixel sensor.

The Huawei Pocket S offers buyers a wide range of color options and has been launched in Cherry Pink, Frost Silver, Ice Crystal Blue, Mint Gren, Primrose Gold, and Obsidian Black.

Huawei Pocket S

The Huawei Pocket S comes with a 4000mAh battery and support for 40W fast charging.

Huawei Pocket S, the latest foldable smartphone from Huawei, runs on Snapdragon 778G SoC and is powered by Harmony OS 3.The device also features a flexible graphite heat dissipation system.

Huawei Pocket S comes in three different variants. One variant features 8GB RAM + 128GB storage, another offers 8GB RAM + 256GB storage, and the last one presents 8GB RAM + 512GB storage.

Huawei Pocket S

Smartphone cost

Pre-orders for the Huawei Pocket S Smartphone have already begun, and the device will go on sale on 10th November 2022. The device costs CNY 5,988 (roughly Rs. 67,900) for the 8GB RAM + 128GB storage variant, while it demands CNY 6,488 (approximately Rs. 73,600) for the 8GB RAM + 256GB storage variant. Last but not least, an 8GB RAM + 512GB storage variant of the Pocket S costs CNY 7,488 (roughly Rs. 84,900).

The Huawei Pocket S comes under a reasonable price tag for the functionalities that it offers to buyers. So far, the netizens have shown a positive response towards the device.

Pros and Cons of Foldable Phones

Huawei Pocket S

As rightly side, every coin has two sides. The newly arrived foldable phones have a fair share of both pros and cons. Here we have listed a few of them-

Pros

  • Bigger displays
  • Optimized photography and Videography
  • Doesn’t occupies much space
  • Facilitates multitasking

Cons

  • Quite expensive
  • Quite heavy
  • Interface is not so user-friendly
  • Prone to errors

How is the new Huawei Pocket S better than the other foldable phones

The first and foremost thing that needs to be mentioned is that unlike its other counterparts, the new Huawei Pocket S comes with a very reasonable price. Infact, it is the cheapest and most affordable foldable phone launched so far. Apart from that the Huawei Pocket S also comes with an ultra-thin bendable graphite sheet for improving cooling capabilities, along with a 4,000 mAh battery and 40W fast charging.

Conclusion

On 2nd November 2022, Huawei Pocket S detailed specifications and images leaked on the internet. This happened just a few hours before the scheduled launch of the smartphone. Regardless of the leak case, the smartphone was successfully launched, and its pre-orders have already begun. The Huawei Pocket S sale will go live on 10th November.

Read More: 

Huawei’s Revenue Falls Down 2.2 Percent This Year Amid US Sanctions

Huawei Discount Offer for Independence Day

Huawei unveiled Nova 9 SE: Check out specifications and price

Elon Musk Sends Dogecoin Fans Into Further Frenzy With Recent Tweet: Here’s How

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Team My Mobile
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Dogecoin Fans

That Elon Musk knows how to keep the Twitter crowd entertained is a fact that no one will argue against. But the man does everything for a reason even if it is simply tweeting a meme. When the world’s richest man recently posted a picture of a dog wearing a T-shirt on his Twitter handle, very few would have expected it to be the reason for cryptocurrency Dogecoin’s price to see a record-breaking upward trend. The new Twitter owner has helped the meme-based cryptocurrency Dogecoin in skyrocketing its price by more than double in just about a week. This happened as many people after Musk’s tweet started speculating about his plans for the social network platform.

If the price ranking of CoinMarketCap is to be believed then meme cryptocurrency’s price has rocketed above other competitors Ethereum rivals Solana and Cardano.

In the last 24 hours (at the time of writing this story), Dogecoin’s price was trending at least 15 per cent higher as an after effect of all the buzz, apar that Musk’s tweet created. If we look at the price trajectory in the last seven days, the extraordinary rallying of the meme based cryptocurrency has been up more than 131 per cent.

What exactly is the reason behind such massive buzz around Dogecoin? One might say that chatter around cryptocurrency (Bitcoin/Tether) in general including crypto fraud, and the US DOJ eye on them is now an everyday thing. But the main reason behind the Dogecoin buzz is investors’ and industry speculators’ strong belief that the Tesla billionaire may be running the idea of incorporating some kind of crypto component into Twitter after taking over the social media company.

Dogecoin Fans

Crypto enthusiasts seem to believe that this component may include the use of Dogecoin through the social media platform. This, as expected by many, will spread cryptocurrency’s exposure and use to the masses as Twitter has a large and active user base. Several reports of Twitter working on some kind of digital wallet prototype have already been doing rounds amongst many industry watchers. This Twitter digital wallet would most probably support crypto deposits and withdrawals.

Musk’s latest tweet with a dog picture also seems to suggest to many users that in case the social media platform plans of monetising creators’ content in the future, the meme-based crypto coin could become one of the payment options. If this happens and Dogecoin gets integrated as a payment method with Twitter, this will surely make the coin price spike even higher. As it appears with everything that has been going on with Musk and Dogecoin, payment integration with Twitter now seems to be the most inevitable feat. It must be noted that all other Musk companies including SpaceX, Boring Company, Tesla, and Burnt Perfume accept DOGE payments.

However, this is not the first time that a crypto coin will be integrated with the social media platform. Much before DOGE integration started the buzz and online chatter, Twitter had integrated a Bitcoin and an Ethereum. The tipping feature with Bitcoin and Ethereum has been integrated with Twitter since September 2021 and February 2022 respectively.

Moreover, in some other interesting news reports, it is widely speculated that Dogecoin at the  moment is experiencing a “short squeeze.” According to many industry reports and some famous crypto bloggers, “crypto exchanges have experienced tens of millions in liquidations on Dogecoin specifically, as traders who were shorting the token had to cover their positions.”

Why WhatsApp Banned 26.85 Lakh Accounts in India in September?

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Team My Mobile
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WhatsApp

WhatsApp, in its latest report, revealed that in the month of September alone it banned 26.85 lakh accounts in India. This number of 26.85 lakh banned accounts includes 8.72 lakh accounts that the platform proactively banned based on its internal investigation before any user report was received. The Meta-owned instant messaging service platform divulged the details in its recent customary “User Safety Report” for September 2022.

The report also pointed out that the number of accounts banned in the month of September was 15 per cent higher than the number of accounts the company banned in August. WhatsApp banned 23.28 lakh accounts in the month of August.

The September “User Safety Report’ of the instant messaging platform said, “Between September 01, 2022 and September 30, 2022, a total of 2,685,000 WhatsApp accounts were banned. 872,000 of these accounts were proactively banned, before any reports from users. An Indian account is identified via a 91 phone number.”

WhatsApp started releasing the monthly “User Safety Report” after the Government of India bought toucher IT rules last year that made it mandatory for large size digital platforms in India to release compliance reports every month. According to the updated IT rules 2021, any digital platform with more than 50 lakh user base will have to display more transparency towards its content moderation policy. These companies were mandated to release compliance reports every month of the year detailing the number and type of compliants received on the platform and the action taken on them.

WhatsApp Banned

Large social media companies have been under scrutiny and criticism for a long period of time because of prevalent hate speech, rampant misinformation, unethical content and the circulation of fake news on these platforms. Many quarters have been constantly flagging concerns that most of these companies are not doing enough to control what’s being written or circulated on their platform. User have also accused most of these digital platforms of acting arbitrarily on receiving reports and pulling down content, and ‘de-platforming’ users without giving an appropriate reason.

Last week, the government also announced a set of rules to set up a grievance appeal mechanism that will work against reports of “arbitrary content moderation, inaction, or take down decisions of big tech companies.”

As per the latest WhatsApp report released for the month of September, it received a total number of 666 grievances in the entire month. However, surprisingly the company stated it took action only against 23 grievances out of 666.

“In addition to responding to and actioning on user complaints through the grievance channel, WhatsApp also deploys tools and resources to prevent harmful behaviour on the platform. We are particularly focused on prevention because we believe it is much better to stop harmful activity from happening in the first place than to detect it after harm has occurred,” the company explained in the report.

The number of accounts banned by the instant messaging service app in the month of July stands at 23.87 lakh. Out of these, more than 14 lakh accounts were taken down even before a single report was received from users.

Read More :
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India to bring crypto regulation agenda in G20 meeting says Finance Minister Nirmala Sitharaman

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Team My Mobile
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Finance Minister Nirmala Sitharaman

The 17th G20 meeting with the Heads of state and government will take place on 22nd of November in Bali, Indonesia. The summit scheduled in the last quarter of 2022 will mark the discussion around the themes as follows:

  1. Global Health Architecture
  2. Digital economy Transformation
  3. Energy Transition

India Finance Minister Nirmala Sitharaman, while addressing the members of the Indian Council for Research on International Economic Relations (ICRIER), the keynote for the upcoming G20 conference stated the nation’s 8 priorities that are still in the process besides one unfinalized agenda of regulating crypto assets globally. Currently, nothing concrete is decided or came out in the news, a mere idea of regulating crypto assets is presented as one of the priorities and points of major focus of the Indian government for the coming year in the national interest. Furthermore, Urging the G20 countries to be in cahoots with regulating the crypto assets, so as to have a little structure of management to this decentralized form of digital transactions that is robustly catching all the attention.

Finance Minister Nirmala Sitharaman

Nirmala Sitharaman India’s Finance Minister Proposes the idea of regulating the crypto assets with all the countries of G20 to be on board as she further adds “No one, single country can succeed in individually being in the silo and trying to regulate the crypto assets” to find the procedure in which it can be managed in a better manner worldwide to blaze its way towards prosperity and progress as she admits deliberately using the term ‘crypto assets’ by further explaining her stance “I use the word crypto assets because I distinctly would stand outside of the RBI which is bringing the currency and talk about the world which prevails outside where assets are being created and traded. Regulating them in National interest because you don’t know what trail leads you to, is it a drug funding, is it terror funding, or is it just gaming the system.”

G20 or Group of 20 is an intergovernmental forum consisting of 19 countries, including developed and developing nations, Plus the European Union. Held once in a year since 2008, where the Head of the state or government, Finance Minister, or other high-rank officials attend this summit, discussing the point of concern and tailoring distinguished themes to iron out every year. The discussion with an absolute solution when implemented, engenders growth and prosperity to the concerned aspect. G20 tries to look after every vertical of the world that can do with a splash of amendment to be relevant ahead as well.

How to Fix Bad System Config Info Error in Windows 11

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Team My Mobile
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Error in Windows 11

Windows 11 have several screen errors that users have come face to face time and again. One such error that irritates the most is “BAD_SYSTEM_CONFIG_INFO” aka Error 0x74. Wondering what Microsoft has to say about this? They call it an error because of corrupt Registry files or damaged BCD data. The question is, how to fix this bad system config info error? We understand the issue disturbs many users and so, we have brought to you a dedicated guide on how to fix the Bad System Config Info error in Windows 11.

The good news? The issue can be manually fixed. Anyone facing the issue can manually fix the Registry or even employ native command-line tools. This will automatically fix the Bad System Config Info error. How? Here’s your guide and multiple ways with detailed instructions.

Try to Start Your Windows 11 Computer

As a first step to fix the error, try restarting your PC. Rebooting the system should be the first step whenever a BSOD error (i.e. Bad System Config Info error) flashes for you. It usually fixes the issue easily without you trying too many complicated ways.

To reboot, simply press and hold the power button on your laptop or computer. This will shut down the system and most likely will resolve the error.

After that, wait for a few seconds or a minute before pressing the power button again. Then boot up and start your Windows 11 computer again. You should try to use the PC after this for some time to check if “Error 0x74” aka the Bad System Config Info error appears again or not.

Error in Windows 11

Run Startup Repair

In case a normal reboot doesn’t fix the problem and you face the Bad System Config Info error too soon again on your computer, know it is time to go for the recovery environment. In such a case, you have to do an automatic startup repair. How to do that? This is where things get interesting. To start the automatic startup repair, you have to manipulate the computer innovatively.

The first step, completely shut down your PC. Now the second step, turn it on and as soon you see the Windows loading shut it down. Then the third step, turn it on again and shut it again when you see the Windows loading. Repeat this 2 to 3 times. This is how Windows will be forced to start the recovery environment. Next, you will see the “Preparing Automatic Repair” or “Please wait”. Do not stop the process in between, let it complete itself and only then move to the next step.

Once the recovery screen flashes, you should select “Advanced Option” and then open “Troubleshoot” from the menu. As a final step, click on “Startup Repair“ and let it reboot your computer. This repair system will try to fix the Bad System Config Info error on Windows 11.

Run SFC and DISM Scan

Windows 11 comes with a brilliant built-in utility that they call SFC and DISM. Through this feature, the corrupt system files and components are fixed via a few commands. If the first two methods don’t help in resolving the Bad System Config Info error on your Windows 11 computer, the next step you can try is this command-line tool. This is probably Window’s most handy system to fix the issue.

Read more: Windows 11 Fast Startup; Details Inside

Read more: Windows 11 Task; Enabling Taskbar Overflow

RBI to Begin Pilot of Digital Rupee on November 1 With Participation From 9 Banks

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Digital Rupee

The Reserve Bank of India (RBI), has officially announced the launch of the pilot for a digital rupee for the wholesale segment on November 1, 2022. It has also identified nine banks, including the country’s biggest public bank, the State Bank of India, to work on the central bank-backed digital rupee.

India’s central bank and regulatory body published the official announcement on its website, which stated “RBI vide Press Release dated October 7, 2022 had announced that the Reserve Bank will soon commence pilot launches of Digital Rupee (e₹) for specific use cases. Accordingly, the first pilot in the Digital Rupee – Wholesale segment (e₹-W) shall commence on November 1, 2022.”

The official statement further added, “The use case for this pilot is settlement of secondary market transactions in government securities. Use of e₹-W is expected to make the inter-bank market more efficient. Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee infrastructure or for collateral to mitigate settlement risk. Going forward, other wholesale transactions, and cross-border payments will be the focus of future pilots, based on the learnings from this pilot.”

The nine banks that the Central Bank identified as per the released announcement statement include the State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC. All these banks will be participating in the pilot project for India’s first official digital currency.

The official statement also mentored, “the first pilot in Digital Rupee – Retail segment (e₹-R) is planned for launch within a month in select locations in closed user groups comprising customers and merchants. The details regarding operationalisation of e₹-R pilot shall be communicated in due course.”

It is worth noting that the central bank’s launch of a pilot for Indian digital currency has been made public at the same when the agency has shown its staunch opposition to cryptocurrency.

The announcement also came just a few days after China’s digital yuan was grabbing headlines in “the world’s largest cross-border central bank digital currency (CBDC) trial to date.”  According to the media chatter, news about China’s digital yuan shows how Beijing is speeding up the international introduction of its digital currency. Yuan’s globalization efforts by Beijing amid rising geopolitical tensions from all corners did not go unnoticed by other major economies from all continents.

Digital Rupee

A recently released Bank of International Settlement (BIS) report also made it clear that China’s digital currency, which is often referred as e-CNY in the media, “was the most issued, and actively transacted token in the $22 million pilot that used CBDCs to settle cross-border trades.”

A Central-Bank-Backed Digital Currency, also known as Digital Rupee, is a digital form of currency notes. It will be issued by the Central Bank (RBI). In easy terms, it is an electronic form of money which will further be encouraging contactless transactions among citizens.  first made the announcement regarding RBI’s plan of rolling out its digital currency during her Union Budget 2022 speech.

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Elon Musk Said to Have Assured EU Chief to Abide by Online Content Policing Rules for Twitter

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Elon Musk

According to a close EU source, after taking over the ownership of Twitter, Elon Musk has given assurance to the European Commission on Monday that the platform will continue to abide by the EU social media rules and online content policy as before. In a separate exchange last week also, Musk spoke to the EU’s industry chief, Thierry Breton and reiterated that he is planning on fully complying with the region’s Digital Services Act. EU follows strict illegal online content policing and levies hefty fines whenever online companies do not control illegal content.

Elon Musk

The exchange between both Breton and Musk came to light days after Breton took to Twitter to warn Musk. Breton had warned the new Twitter head about the new European legislation earlier in the week. Breton tweeted, “In Europe, the bird will fly by our EU rules” in response to Musk’s original tweet which read, “the bird is freed,” referencing Twitter as the bird in this case.

Twitter users were quick to comment on the reports of Musk giving assurance to the EU Chief. One user tweeted on a positive note, “The assurances from Musk appeared to suggest a pragmatic attitude from the CEO of electric car maker Tesla, who has previously expressed his desire to see Twitter have fewer limits on content that can be posted.”

Earlier in May this year, EU chief of industry Thierry Breton had a meeting with the Tesla founder Elon Musk in Texas, US. During the meeting, the two reportedly signalled an agreement on EU digital media regulation. This news was making rounds before Musk’s purchase of Twitter was finalised and still in limbo. And now with Musk taking over Twitter legally and officially, this report of a positive exchange between both men should be received on a positive note.

The last meeting between Musk and Breton was held a few weeks after the social media company was clinched in a headline grabbing deal by the world’s richest man. Musk had proposed to take over Twitter for $44 billion (which is close to Rs. 3,40,270 crore in Indian currency) in cash.

Breton even posted a video on Twitter about the meeting he had with Musk and revealed that he had actually explained all details about the Digital Service Act of EU to Musk in order to avoid any future confrontations. “It fits pretty well with what you think we should do,” Breton tells Musk in the video he tweeted which also included the hashtag #DSA.

Musk’s response to that video was, “I think it’s exactly aligned with my thinking.”

The two, however, never went into the details of the new law. As per media reports surfacing on various news agencies, the Digital Service Act imposes hefty fines on companies whenever they slag out of controlling the illegal content on their platforms. The rules ban also “advertising aimed at children or based on religion, gender, race, and political opinions, for example.”

Related articles
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Bengaluru Metro Launches QR Ticketing Service on WhatsApp for Commuters

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Bengaluru Metro Launches QR Ticketing on WhatsApp
Bengaluru Metro Launches QR Ticketing on WhatsApp

If you are a Bengaluru Metro traveller, we have some good news for you. Looks like the long wait at the metro ticket booking counter or at the travel pass recharge station will stop being the reason for delaying your journey from now on. And all you have is the latest Metro announcement to thank. In a bid to make booking a metro ticket easier, Bengaluru Metro is all set to launch a ticketing service through WhatsApp. Bangalore Metro Rail Corporation Limited (BMRCL) and WhatsApp revealed the launch of this innovative way of ticket booking in an official announcement on Monday.

WhatsApp is facilitating a chatbot for ‘Namma Metro’ commuters which will be Unified Payments Interface (UPI) integrated. Commuters will soon be able to purchase metro tickets as well as recharge their metro pass through the WhatsApp chatbot within a few commands.

According to BMRCL, it is going to be the first public transit service around the world to allow QR ticketing service for end-to-end booking processes on WhatsApp for commuters.

“The process of making the payment is a seamless experience that gives users the option to pay without leaving the WhatsApp chat interface. After choosing their travel details, users are given the option to pay using payments on WhatsApp by authenticating the transaction using their UPI pin,” the BMRCL said in a statement to the media.

Bengaluru Metro
Bengaluru Metro

Three important things that you as a commuter should know about Metro QR Ticketing:

  • The WhatsApp chatbot service for booking tickets for all commuters of ‘Namma Metro’ will be available in English and Kannada languages only.
  • To make use of this service, a commuter has to launch the chatbot by simply sending ‘Hi’ from their WhatsApp to +91-81055 56677. This is BMRCL’s official WhatsApp chatbot number.
  • Once the chatbot is launched in WhatsApp, commuters need to select one option from either recharging their metro travel passes or buying single journey QR tickets as a command on the app for proceeding to the payments gateway.

Detailing the process of booking tickets through WhatsApp, various media outlets further stated, “The purchased mobile QR tickets are valid until the day’s Metro service ends. The commuters can cancel their journey and receive a refund of their ticket cost. Over the token fare, the BMRCL offers a 5 per cent discount on QR tickets.”

The managing director of BMRCL Anjum said,  “Namma Metro had trained workers and placed QR code scanners in stations. The new system would go into force on the occasion of Kannada Rajyotsava.”

Bengaluru Metro
Bengaluru Metro

In a separately prepared solo statement about the launch of this new service, Head of WhatsApp India Abhijit Bose said, “This is yet another great example of how organizations across sectors, from the largest transportation service to the smallest retail business, can transform their customers’ experience using the WhatsApp Platform.”

India is undoubtedly one of WhatsApp’s biggest markets internationally with over 400 active million users using the services of the messaging app across the country. This year, the messaging service app, which is owned by tech giant Meta, finally got the approval for extending its UPI-powered payments to 100 million Indian users.

Related Articles


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Microsoft Said to Have Offered No Remedies in EU Antitrust Review of Activision Deal

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Microsoft Activision Deal
Microsoft-Said-to-Have-Offered-No-Remedies-in-EU-Antitrust-Review-of-Activision-Deal

It appears Microsoft is offering no remedies to the European Union antitrust regulators who are reviewing the company’s proposed bid for the Activision Blizzard deal before the full-scale probe begins, international media reported based on insider words. Earlier in January this year, Microsoft had proposed an acquisition bid worth $69 billion, which is around Rs. 5,71,400 crore in Indian currency, for Activision Blizzard, the Call of Duty maker.

As the close source quotes in the international media, “The US Software Company is betting on the acquisition to help it compete better with leaders Tencent and Sony, with the latter being a critic of the deal.”

Activision
Activision

The European Union antitrust regulator revealed on its website that Microsoft has not offered any concessions as of now. The commission is supposed to finish the preliminary assessment of the Microsoft-Activision Blizzard deal by November 8 this year.

According to Microsoft, the company continues to work with the regulators on the next steps of this EU antitrust review. It is also willing to address any valid concerns that the marketplace may have. This was said in all probability for the concerns previously voiced by Sony. Though Microsoft ended speculation when it, in a statement to the media, said, “Sony, as the industry leader, says it is worried about Call of Duty, but we’ve said we are committed to making the same game available on the same day on both Xbox and PlayStation.”

Traditionally no major companies have offered remedies to the European Union during the preliminary reviews. This is because most of the time in such cases, the companies know that regulators are most likely to upon a subsequent investigation. In this case, as well, the EU is all set to begin an in-depth investigation, which Microsoft was probably anticipating. However, the European commission has a deadline of November 8, by which it has to finish the preliminary investigation and then formally announce whether a much-talked-about Phase 2 investigation will happen into the deal or not.

Various media agencies earlier also reported that the EU antitrust regulators have been speaking to other game developers and trying to understand if Microsoft will or can “be incentivized to block rivals’ access to Call of Duty maker Activision Blizzard’s best-selling games.” This was mentioned in media reports based on some EU documents seen by a reputed media agency.

The report also stated that the EU competition enforcer has inquired whether Activision’s trove of user data can be used by the US software giant for any competitive advantage. It appeared that the EU competition enforcer believed that a competitive advantage can be gained with “the development, publishing and distribution of computer and console games.”

Activision Blizzard
Activision Blizzard

Microsoft with this planned Activision Blizzard acquisition deal, which many believe to be the biggest deal in the gaming industry ever to be signed, would be able to compete with leaders Tencent and Sony better.

It is to be noted that Microsoft’s bid to acquire Activision Blizzard is not only under review in the EU but also in several other parts of the world. The deal is also under review in the U.S., Australia, New Zealand, Japan and South Korea. Moreover, Brazil and Saudi Arabia are two countries that have cleared the acquisition deal unconditionally.

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