The logo of TikTok is displayed on the screen of a smartphone in front of a TV screen displaying the TikTok logo. Photo: VCG

Despite the malicious crackdown on Chinese companies under former US president Donald Trump, the US remains the largest overseas market of TikTok. The app was the highest-grossing non-gaming app in the global market in January, with revenue close to $128 million, according to a report released by data research firm Sensor Tower.

TikTok's revenue in January was up 3.8 times from the same period last year, the report showed. About 82 percent of the total was generated by Douyin, the Chinese version of TikTok, also owned by ByteDance, while the US and Turkish markets contributed 8 percent and 2 percent, respectively.

In December, TikTok's revenue from the US accounted for 7 percent of the total, according to another report by Sensor Tower released in January. The app has been the top-grossing non-gaming app worldwide since April last year, according to SensorTower's previous reports.

Despite being targeted by the Trump administration, the data showed that TikTok's revenue-generating ability has remained unaffected and it retains high user loyalty in the US market, analysts said. 

"TikTok's robust performance shows that the US crackdown is more like a 'paper tiger' that could not hinder the technological development of Chinese firms," Liu Dingding, a Beijing-based veteran industry observer, told the Global Times on Thursday.

The Trump administration had announced bans that would have barred the app from app stores in the US over national security concerns. The ban was blocked by a local court last year. Washington also pushed a forced sale of TikTok's US operations to American companies. 

The deadline was extended to February 18, moving the decision from the Trump administration into the hands of the Biden administration.

Industry observers predict US President Joe Biden is poised to approve the former proposal: that is, to set up a new US company with local partners to manage users' data. The Chinese company will retain control of its key source of competitiveness, the algorithm.

"There is a growing bipartisan consensus on the rise of Chinese tech companies. But Biden is more predictable and will act based on legal procedures," Liu said. He also noted that Biden's team has close connections with Silicon Valley, which may weigh on the decision.

Global Times