Developments regarding one of the company’s apps were a concern for investors.
One of the more useful features meta platform‘s (meta -4.13%) The core of the Facebook site is its messaging service. So it was no surprise that the company’s stock price fell following news that its messaging would no longer be available as a standalone app in China’s top mobile markets. Meta’s stock closed down more than 4% on Friday, a much larger decline than Meta’s 0.9% decline. S&P500 index.
Facebook Messenger removed from China’s App Store
before the market opens wall street journal A number of popular messaging apps have reported being removed. appleApp Store of the day. This includes Facebook Messenger, as well as Telegram and Signal. The iPhone maker said this was done in response to a request, citing fairly vague “national security concerns” as the reason.
of journal “Even if we disagree, we are obligated to abide by the laws of the countries in which we operate,” the statement quoted an anonymous Apple spokesperson as saying.
Facebook Messenger, Telegram, and Signal are not accessible behind the so-called Great Firewall built by the Chinese government. However, it is common for people in this country to find ways around such restrictions, and messaging apps are popular. The country’s authorities have historically been suspicious of these apps, viewing them as conduits for material harmful or threatening to the government.
there’s always a way
The removal of Facebook Messenger does not necessarily mean that Facebook will be removed from Chinese society. As usual, users in this huge Asian country will find ways to connect to social media, and if they have a Facebook account they will continue to use it in some way, even without Messenger. . I don’t think the sudden App Store ban is much of a threat to Meta’s business.
Randi Zuckerberg is a former head of market development and spokesperson at Facebook, sister of Meta Platforms CEO Mark Zuckerberg, and a member of the Motley Fool’s board of directors. Eric Volkman He holds positions at Apple and Meta on his platform. The Motley Fool has positions in and recommends Apple and Meta Platforms. The Motley Fool has a disclosure policy.
