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TikTok reports over $6 bn loss from India’s ban

When India banned on Monday 59 applications one of those was TikTok and the reason for the ban was “prejudicial to sovereignty and integrity of India, defense of India, the security of the state and public order”. That means the ban isn’t going away anytime soon. The company ByteDance Ltd. made a report and calculated the losses from this ban and the results are huge 6 Billion Dollars.

TikTok Expects Over $6 Billion Loss After India's Ban On App ...

As we all should know by the ban came in the wake of ongoing standoff along the Line of Actual control between Chinese troops and Indian ones. 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.

TikTok was popular in India it had over 611 Million downloads in the first quarter of 2020, almost 30% of total worldwide downloads.

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