Because of its ban in India, TikTok’s parent company ByteDance Ltd. is expected to lose huge amounts of money. A recent report from Caixin (via the Economic Times) stated that the company is expected to lose a staggering $6 billion in losses due to the direct result of the Indian ban.
- After the Indian government banned, TikTok’s parent company is expected to lose 6 billion US dollars.
- TikTok is one of 60 applications that have been banned due to Chinese links.
Of course, TikTok is just one of about 60 other apps with Chinese links. These apps are banned by India because they “detract from the sovereignty and integrity of India and defense of India, national security, and public order.”
Chinese technology company ByteDance also produces applications like Helo, a very popular social media application that supports Hindi, Telugu, Tamil, Malayalam, and other languages.
It is also listed in apps that are banned from use in India, which may also be the reason the company expects to lose so much money.
At present, we have not heard any news about how other application manufacturers are prepared to deal with the ban. We have not heard how much revenue other companies expect to lose.
Although it is difficult for India to enforce the ban, it seems that TikTok’s parent company is stepping up its efforts to prepare for the worst. After all, this is the huge revenue loss the company expects to obtain.