TikTok Expects Over $6 Billion Loss After India's Ban On App: Report

According to China's 

Caixinglobal.com, sources close to the company's senior management said that the amount of 6 6 billion is more than the combined losses of all Chinese apps banned by India.

BEIJING: Chinese tech company Unicorn Byte Dance Ltd is expected to lose more than 6 billion this week after India banned three apps, including the hugely popular video app Tik Tok, a media report said. I have been told.

In addition to TikTok, India has banned 58 other apps with Chinese links, including the popular UC browser, citing "bias against India's sovereignty and integrity, India's defense, state security and public order". Involved in activities. The ban comes in the wake of the ongoing standoff with the Chinese military along the Line of Actual Control in eastern Ladakh.

Sources close to the company's senior management said that the amount of 6 6 billion far exceeds the combined losses of all Chinese apps banned by India, according to China's Syxingglobal.com.

It says Byte Dennis has become one of China's latest parent companies to face growing resistance from foreign governments, despite concerns about perceived relations with the Chinese government and concerns over the protection of consumer data. Competes with

Describing India's ban on 59 Chinese-made apps as "extraordinary", the report said it was a major blow to the global expansion of Tik Tok, which has been called China's most popular overseas app. Is. India is its largest market in terms of customers outside China, where the service is called Dwayne.

Byte Dance apps were banned from its short video platforms Ticket Talk and Vigo Video, as well as its social networking app Hello. Tencent's messaging platform VChat and five other apps were also banned. Other major tech chain companies, including Alibaba Group Holding Limited and Baidu Inc., also banned their products.

All 59 apps have now been removed from Apple Inc. and Google LLC's App Stores for the Indian market.

In the first quarter of this year, Tik Tok was downloaded 611 million times in India, which was equivalent to 30.3% of its total worldwide downloads in this quarter and India's number of downloads in 2019 The ratio is double, the report cites the sensor tower. .

Analysts told Caixin that the consequences of India's latest decision could be more lasting.

Reacting to the Indian government's move, Tiktok said it would fully comply with the decision. Bite Dance employs over 2,000 full-time local staff in India.