TikTok owner ByteDance predicts over $6b in losses from India app ban

TikTok owner ByteDance predicts over $6b in losses from India app ban

FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken Nov. 27, 2019. REUTERS/Dado Ruvic

Chinese tech unicorn ByteDance Ltd., owner of the hugely popular short video app TikTok, is anticipating a loss of more than $6 billion after three of its apps were banned in India early this week, sources close to the company’s senior management told Caixin Wednesday.

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