tiktok loss after getting banned in india. TikTok estimated to lose six billion dollars due to India ban: report

tiktok loss after getting banned in india. TikTok estimated to lose six billion dollars due to India ban: report

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TikTok estimated loss of six billion dollars due to ban in India: report

Beijing ByteDance Ltd of China, which owns the video social media app TickTalk, is estimated to lose more than six billion dollars due to the ban on three of its apps in India. The company’s two other apps are Wego Video and Halo. Significantly, the Indian government on Monday banned 59 of China’s total apps. This includes popular apps such as TicketLock, Wego Video, Hello, UC Browser, UC News, WeChat and ShareChat.

The Indian government closed the app, posing a threat to the country’s sovereignty and integrity and data security. But this decision of the government is seen to be linked to the violent conflict between India and China in the Galvan Valley of Ladakh on 15 June.

In this conflict, 20 soldiers of the Indian Army were martyred. China’s Kaishin Global.com quoted a senior manager of ByteDance as saying that the loss of $ 6 billion is likely to be more than the total loss of other Chinese apps banned by India. ByteDance is an emerging technology company in China.

Due to data security, it has faced opposition from local governments in many other countries besides India. The report described India’s ban on 59 Chinese apps as unpredictable. Accordingly, this would give a big blow to Tiktok’s global expansion.

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