With India's TikTok ban, Chinese parent company ByteDance could lose up to $6 billion

Edited By: Nikhil Pandey WION Web Team
NEW DELHI Published: Jul 01, 2020, 08.41 PM(IST)

TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019 Photograph:( Reuters )

Story highlights

On it’s official Twitter handle The Global Times posted that the loss of Chinese internet company ByteDance – the mother company of Tik Tok — could be as high as $6 billion.

Chinese state-backed media outlet The Global Times has said that the loss of Chinese internet company ByteDance (mother company of Tik Tok) could be as high as $6 billion after the Indian government banned 59 Chinese apps.

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On it’s official Twitter handle The Global Times posted that "The loss of Chinese internet company ByteDance – the mother company of Tik Tok — could be as high as $6 billion after the Indian government banned 59 Chinese apps including Tik Tok, following deadly border clash between Indian and Chinese troops last month."

TikTok

The Indian government had on Monday banned 59 Chinese apps amid the India-China standoff at Galwan Valley.

Also read: India bans 59 Chinese apps including TikTok, Shareit, UC Browser citing national security

"This move will safeguard the interests of crores of Indian mobile and internet users. This decision is a targeted move to ensure safety and sovereignty of Indian cyberspace," India's ministry of electronics and IT had said.

The apps which were banned included UC Browser, Tik Tok, SHAREit, Baidu map, Shein, clash of Kings, DU battery saver, Helo, Likee, YouCam makeup, Mi Community, CM Browsers, Virus Cleaner, Apus Browser among others.

Meanwhile, Tik Tok which has a huge following in India said: "TikTok continues to comply with all data privacy and security requirements under Indian law and has not shared any information of our users in India with any foreign government, including the Chinese government."

(With inputs from agencies)

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