Apple Says It Is Not Interested in Acquiring TikTok

Earlier today, a report from Axios claimed that Apple is interested in acquiring TikTok. Apple has issued a statement and says it has no interest in acquiring TikTok. The earlier report was sourced from someone outside Apple who claimed to know about the deal.

Yesterday, President Trump announced TikTok would be banned if the sale doesn’t happen by Sept 15. Microsoft announced that it is in talks with TikTok and is looking to acquire the services within the deadline. If the deal goes through, then, TikTok will not be banned from the US. Trump also added that the US treasury should get “a lot of money” as part of the deal. Microsoft has assured that it will acquire TikTok after “complete security review” and “providing proper economic benefits” to the US.

Last week Trump said that he is planning to ban TikTok and a slew of other Chinese apps for posing a national security risk. Initially, Trump was against the idea of Microsoft acquiring TikTok. However, he later changed his decision.

I don’t mind whether it’s Microsoft or someone else, a big company, a secure company, a very American company buys it,” Trump told reporters at the White House on Monday. “It’ll close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the Treasury of the United States gets a lot of money.

An Editorial in China Daily Newspaper says that the Chinese government will not allow for “theft” of a Chinese tech company. It further claimed to know of several ways to respond if the administration “carrier out its planned smash and grab.”

Our Take

Apple might end up as causality in this war. The Chinese government might end up retaliating by banning Apple. China has already banned Facebook and Google. Due to the escalating trade wars of the recent past, Apple has been replaced by Huawei when it comes to the premium smartphone segment.

[via Reuters]