Yes, a firmware update resets the device to factory defaults. Write down your portal URL and MAC address before updating.
Even with the latest firmware, you may encounter problems. Here is how to fix them: mag 322 latest firmware
The MAC address is not registered with your IPTV provider or the provider’s portal requires an older authentication method. Fix: Reboot your router, then the MAG 322. Contact your provider to ensure your MAC (first 6 digits: 00:1A:79) is allowed. The latest firmware sometimes changes the user-agent string; ask your provider to whitelist the new version. Yes, a firmware update resets the device to factory defaults