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Why is my laptop not powering on normally

I had this laptop for 2 weeks now and the power button keeps blinking instead of turning on. It only turns on after I press it for some time and when I unplug it, the bios time resets. Does this sound like a dead cmos battery?

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I also want to state that the bios date is reset after it's been unplugged.

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That would sound like a dead CMOS battery. BUT, since your power button is blinking, your main battery or your charging circuit may also have a fault. Normally, the main battery will supply the CMOS. So, both appear to have a problem.

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