Trending

Stories

TikTok predicts over USD 6 bn loss from India’s ban: Report

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Chinese tech giant unicorn ByteDance Ltd. is anticipating a loss of over USD 6 billion after three of its apps, including the hugely popular video app TikTok, were banned by India this week, a media report here said.

Besides Tiktok, India banned on Monday 58 other apps with Chinese links, including the popular UC Browser, for engaging in activities prejudicial to sovereignty and integrity of India, defense of India, the security of the state, and public order”. The ban came in the wake of the ongoing stand-off along the Line of Actual Control in eastern Ladakh with Chinese troops.

Also Read

The USD 6 billion amount is most likely more than the combined losses for all the other Chinese apps banned by India, China’s Caixinglobal.com reported, quoting sources close to the company’s senior management.

ByteDance became one of China’s latest homegrown technology companies to run into growing resistance from foreign governments wary of the perceived ties to the Chinese government and concerns about protecting user data, it said.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Describing India’s ban of 59 China-developed apps as unprecedented, the report said it is a huge blow to the global expansion of TikTok, which is touted as the most popular Chinese app overseas. India is its largest market in terms of users outside China, where the service is called Douyin.

The ByteDance apps banned were its short video platforms TikTok and Vigo Video, as well as its social networking app Helo. Tencent’s messaging platform WeChat and five of its other apps were also banned. Other big tech China firms, including Alibaba Group Holding Ltd. and Baidu Inc., also had their products banned.

All the 59 apps have now been removed from Apple Inc. and Google LLC’s app stores for the Indian market.

TikTok was downloaded in India 611 million times in this year’s first quarter, equating to 30.3% of its total downloads worldwide in the quarter and nearly double the total number of India downloads for all of 2019, the report quoted another publication, SensorTower, as saying.

The consequences of India’s latest decision could be more long-lasting, analysts told Caixin.

Responding to the Indian government’s move, TikTok said it would fully comply with the decision. ByteDance employs over 2,000 full-time local staff in India.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly 
OpenAI Releases Tool To Detect AI-generated Text Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors