$6 billion loss to TikTok due to ban: Report

Beijing, July 3

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

Besides Tiktok, India banned on Monday 58 other apps with Chinese links for engaging in activities “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”. The ban came in the wake of the ongoing stand-off along the Line of Actual control in eastern Ladakh. The $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. — PTI