Apple Cracks Down On Tencent And ByteDance Over 30% App Store Fees, Threatens To Reject Essential Updates Following Sales Decline In China: Report
Portfolio Pulse from Benzinga Neuro
Apple Inc. (NASDAQ:AAPL) is pressuring Tencent Holdings Ltd. (OTC:TCEHY) and ByteDance Ltd. to close loopholes in their apps that allow users to bypass Apple's 30% commission. This move could strain Apple's relationships in China and comes amid global scrutiny of its business practices.
August 02, 2024 | 9:45 am
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NEGATIVE IMPACT
Apple is pressuring Tencent and ByteDance to close payment loopholes in their apps, risking strained relationships in China. This move comes amid global scrutiny of Apple's business practices.
Apple's aggressive stance could lead to strained relationships with key Chinese partners, potentially impacting its market position in China. This comes at a time when Apple's business practices are under global scrutiny, adding to investor concerns.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Tencent is being pressured by Apple to close payment loopholes in WeChat, risking essential updates being rejected. This could impact Tencent's app revenue and user experience.
Apple's demand to close payment loopholes in WeChat could lead to rejected updates, affecting Tencent's app revenue and user experience. This adds regulatory pressure on Tencent.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80