New Delhi: The Central government’s decision to ban 59 Chinese apps, including the famous TikTok, could cause huge loss to its parent company ByteDance.
In a report, China’s state-run media The Global Times stated that ByteDance could lose up to Rs 45,000 crore (USD 6 billion) as a result of the Indian government’s decision to ban TikTok, Helo and other Chinese apps.
The development comes as the Centre on Monday this week banned 59 Chinese apps, including hugely popular TikTok and UC Browser, saying they were prejudicial to sovereignty, integrity and security of the country. The move from the Centre comes in the wake of the current standoff along the Line of Actual control in Ladakh with Chinese troops.
The list of apps that have been banned by the Indian government also include Helo, Likee, CamScanner, Vigo Video, Mi Video Call Xiaomi, Clash of Kings as well as e-commerce platforms Club Factory and Shein. Notably, India wasn’t the major source of revenue for TikTok but it was among the top nations to have most downloads for the app.