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Candy crushed on King debut
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Shares in King Digital Entertainment, the maker of the Candy Crush Saga game, fell by as much as 15 percent on their trading debut. It was always a possibility, according to Stuart Miles, founder of Pocket-lint.com. He says there’s no doubt the game is a huge success but it reminds him of what happened to games maker, Zynga. That social gaming firm lost half its value after a 2011 IPO.
Stuart’s also been looking at what else is happening in the tech sector. HTC has unveiled a new flagship smartphone with a depth sensor that allows users to change the focus of their photos. Stuart says that he has spoken to many who think this is a fantastic phone, but he is worried that HTC doesn’t has what it takes when it comes to marketing fund in order to beat rivals Apple and Samsung.
And Facebook surprised market watchers by buying two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for USD 2 billion. The announcement comes just after its USD 19 billion deal for messaging service WhatsApp. Stuart has yet to be convinced by Facebook’s latest acquisition as Oculus “hasn’t even launched yet”. Facebook, however, has stepped out and said it thinks virtual-reality technology could emerge as the next social and communications platform.