Samsung Elec Shares Jump on Upbeat Chip Outlook as Fourth-Quarter Profit Rises

Samsung’s shares have risen about 67% since September, boosted by a global shortage of chips. (Reuters)
Samsung’s shares have risen about 67% since September, boosted by a global shortage of chips. (Reuters)
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Samsung Elec Shares Jump on Upbeat Chip Outlook as Fourth-Quarter Profit Rises

Samsung’s shares have risen about 67% since September, boosted by a global shortage of chips. (Reuters)
Samsung’s shares have risen about 67% since September, boosted by a global shortage of chips. (Reuters)

Samsung Electronics Co Ltd shares jumped on Friday after it said its fourth quarter operating profit likely rose 26% as coronavirus pandemic driven remote working and TV-watching fueled sales of chips and display panels.

Samsung Electronics shares rose as much as 8.6% in afternoon trade to a record high, compared to a 3.9% rise in the wider market, due to an earlier-than-expected rebound in memory chip prices, analysts said.

“DRAM chip prices appear to be turning around now, rather than later in the year as we expected,” said Song Myung-sup, analyst at HI Investment & Securities.

Samsung’s shares have risen about 67% since September, boosted by a global shortage of chips that has forced firms to scramble to secure production capacity from contract chip manufacturers, or foundries.

The 9 trillion won ($8.24 billion) estimate provided by the South Korean tech giant for profit in the December quarter was in line with a 9.1 trillion won analyst forecast by Refinitiv SmartEstimate despite weaker smartphone sales, marketing costs and a strong won versus US the dollar.

That analyst forecast was trimmed back from 9.5 trillion earlier in the week.

Samsung, the world’s biggest memory chip supplier and maker of smartphones, also said revenue likely rose 1.9% to 61 trillion won.

The company provides only estimates of quarterly revenue and operating profit in its preliminary earnings release. Full earnings are due later this month.

“Work-from-home will become entrenched,” said Park Sung-soon, analyst at Cape Investment & Securities. “Samsung’s supply comments, and investments in non-memory chips, will be issues to watch out for when full results are announced.”

Park said analysts would be closely watching for an update on an earthquake in Taiwan last month that briefly stopped memory chip production at rival DRAM makers. While demand usually rises in response to a supply disruption, researcher TrendForce said the earthquake did not seem to have caused any tangible capacity losses.

Analysts expect Samsung to report a jump in memory chip shipments in the December quarter, compared with the prior quarter, offsetting lower prices.

Those prices will likely rebound in the current quarter, analysts said, as data center customers return to buying chips, as well as demand from 5G smartphones, notebooks, graphics and automotive.

South Korea expects semiconductor exports to rise more than 10% in 2021, as the pandemic encourages companies to add bandwidth for remote work and consumers to buy devices.

US memory chip peer Micron Technology Inc on Thursday forecast second-quarter revenue above Wall Street estimates.

On the flip side, Samsung likely recorded an estimated 17.5% drop in smartphone shipments in the December quarter compared to the previous quarter, Counterpoint Research said, due to a high base from brisk sales in the September quarter and competition from Apple’s new iPhone 12.

Samsung is expected to unveil its latest flagship smartphone next week. That would be earlier than in past years, a strategy Counterpoint said was likely aimed at filling the vacuum left by Huawei Technologies losing market share after US government regulations restricted supplies.

A strong won against the US dollar also dented profits. Samsung makes the bulk of its profits in dollars but reports in won.



Saudi National Cybersecurity Authority to Hold 4th Global Cybersecurity Forum in October

A night view of Riyadh, Saudi Arabia. (Reuters)
A night view of Riyadh, Saudi Arabia. (Reuters)
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Saudi National Cybersecurity Authority to Hold 4th Global Cybersecurity Forum in October

A night view of Riyadh, Saudi Arabia. (Reuters)
A night view of Riyadh, Saudi Arabia. (Reuters)

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud, the National Cybersecurity Authority (NCA) will hold here the fourth edition of the Global Cybersecurity Forum (GCF) on October 2-3.

The event, held under the theme “Advancing Collective Action in Cyberspace”, will endeavor to boost international cooperation by bringing together thought leaders, decision makers, and prominent international entities in the field to address the most pressing issues in cyberspace.

This edition will build on the foundation and objectives set by previous editions, helping to bolster international cooperation in cybersecurity.

The event will feature a series of dialogue sessions focused on five key sub-themes: “Beyond Cyber Discord”, on building trust to advance international cyber cooperation; “Cyber Psychology”, on understanding human behavior in cyberspace; “Cyber Social Fabric”, on strengthening development of and inclusion in cyberspace, to bridge the gap between communities, organizations, and countries; “Thriving Cyber Economy”, on the contribution of the cyber economy to development through strong markets and resilient cyber ecosystems; and “New Cyber Frontier”, on how emerging technologies converge to push forward progress and innovation in cyberspace.

GCF is a global platform that brings together decision makers, government and private sector representatives, cybersecurity leaders, academics, and non-governmental organizations to work to improve cybersecurity, achieve economic and social development, and complement global cybersecurity efforts.


Türkiye Moves against Meta over Threads-Instagram Data Sharing

FILE PHOTO: Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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Türkiye Moves against Meta over Threads-Instagram Data Sharing

FILE PHOTO: Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Meta and Facebook logos are seen in this illustration taken February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Türkiye's competition authority imposed on Monday an interim measure on Meta Platforms Inc meant to hinder data sharing between the Instagram and Threads platforms as it investigates possible abuse of the company's dominant market position.
In December, the authority launched an investigation into Facebook parent Meta over a possible violation of competition law by linking its social media platforms Instagram and the newer Threads.
The authority said the interim measure would remain in place until a final decision is made, since the data obtained and merged through these two apps could "violate competition law and cause irreparable damage" in the market.
Separately, the Turkish authority fined Meta 4.8 million lira ($148,000) daily as part of a
separate investigation over a notification message that the company sends users about the sharing of data.
The notification about data sharing between the company's Facebook, Instagram and WhatsApp services did not provide sufficient information and was not transparent enough, it said.
The user notification was also designed to guide users to approve data sharing which was not deemed sufficient to address anti-competition concerns, it added.
A Meta spokesperson did not immediately comment on the decisions.


Apple in Talks to Let Google's Gemini Power iPhone AI Features

FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa
FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa
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Apple in Talks to Let Google's Gemini Power iPhone AI Features

FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa
FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa

Apple is in talks to build Google's Gemini artificial intelligence (AI) engine into the iPhone, Bloomberg News reported on Monday, citing people familiar with the situation.
Apple also recently held discussions with the Microsoft -backed OpenAI and has considered using its model, the report added.
Apple and Google are in active negotiations to let the iPhone maker license Gemini to power some new features coming to the phone's software this year, Bloomberg said.
Apple is preparing new capabilities as part of its upcoming iPhone iOS 18 based on its own homegrown AI models, but it is seeking a partner to power generative AI features, including functions for creating images and writing essays based on simple prompts, the report said.
The two parties have not decided the terms or branding of an AI agreement or finalized how it would be implemented, Bloomberg said, adding it was unlikely that any deal would be announced until June, when Apple plans to hold its annual Worldwide Developers Conference.
Both companies have an existing deal for Google to be the default search engine on Apple's Safari web browser, Reuters reported.
Apple, Google and OpenAI did not immediately respond to a Reuters request for comment outside business hours.
Apple has been slower in rolling out generative AI, which can generate human-like responses to written prompts, than rivals Microsoft and Google, which are weaving them into products.
Last month, Apple CEO Tim Cook said the company plans to disclose later this year more about its plans to put generative AI to use, adding that the company is investing "significantly" in the area.


Huawei Says Chery's Luxeed S7 Delays Will be Resolved in April

FILE PHOTO: People visit the Huawei stand at the 2024 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2024. REUTERS/Albert Gea/File Photo
FILE PHOTO: People visit the Huawei stand at the 2024 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2024. REUTERS/Albert Gea/File Photo
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Huawei Says Chery's Luxeed S7 Delays Will be Resolved in April

FILE PHOTO: People visit the Huawei stand at the 2024 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2024. REUTERS/Albert Gea/File Photo
FILE PHOTO: People visit the Huawei stand at the 2024 Mobile World Congress (MWC) in Barcelona, Spain February 27, 2024. REUTERS/Albert Gea/File Photo

Huawei said that a shortage of semiconductors and factory relocation issues that had delayed production and deliveries of its Luxeed S7 sedan should be resolved from next month, local media outlet Cailianshe reported on Saturday.
It quoted Huawei managing director and chairman of its smart car solutions, Richard Yu, who was speaking about the issues surrounding Chery's Luxeed S7 sedan at an annual forum organized by the EV100 think tank.
Reuters reported in January that Chinese automaker Chery and another Huawei partner, Changan Auto, had lodged complaints with Huawei over how production issues with a computing unit the tech giant manufactured had caused delays to deliveries of their flagship model.
The Luxeed S7 sedan - the first model for Chery's Luxeed EV brand - had orders of about 20,000 as of Nov. 28. Luxeed said in January that buyers could be reimbursed by up to 10,000 yuan if they were unable to pick up the car as promised. The S7 is priced from 249,800 yuan ($34,716.62).
The brand was only launched in November and had been much hyped by Huawei with Yu previously claiming the S7 would beat Tesla's luxury Model S in performance and at a price lower than the Model 3.
Yu also told the EV100 forum that its autos business unit would likely turn a profit from April after losing billions of yuan in the past year, due to strong sales of mid to high-end models built by its partners.
Huawei launched its smart car unit in 2019 with the aim that it could become the equivalent of German automotive supplier Bosch of the intelligent electric vehicle (EV) era and supply software and components to partners.
But it is the only money-losing unit among Huawei's main six and brought in only one billion yuan revenue in the first half of 2023, a fraction of the company's 310.9 billion yuan total.
Last year, Huawei announced that it would spin the unit off into a new company which will receive the unit's core technologies and resources and take investment from partners such as automaker Changan.


TikTok Advertisers Will Look to Rivals if US Senate Moves ahead on Ban

(FILES) This photograph taken on March 7, 2024 in Nantes, shows the logo of Chinese social media platform TikTok. (Photo by LOIC VENANCE / AFP)
(FILES) This photograph taken on March 7, 2024 in Nantes, shows the logo of Chinese social media platform TikTok. (Photo by LOIC VENANCE / AFP)
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TikTok Advertisers Will Look to Rivals if US Senate Moves ahead on Ban

(FILES) This photograph taken on March 7, 2024 in Nantes, shows the logo of Chinese social media platform TikTok. (Photo by LOIC VENANCE / AFP)
(FILES) This photograph taken on March 7, 2024 in Nantes, shows the logo of Chinese social media platform TikTok. (Photo by LOIC VENANCE / AFP)

Advertisers who turn to TikTok to market to young consumers are preparing contingency plans with social media rivals in the event the short-form video app is sold or banned in the US, but they are waiting for signs of Senate action before shifting marketing budgets.
House Republicans voted Wednesday to force Chinese tech company ByteDance to sell TikTok in roughly six months, or face a ban, one of the most significant challenges to the company that has long faced questions about national security concerns.
The White House has urged the Senate to pass the bill and US President Joe Biden has pledged to sign it.
Meta's Reels and YouTube's Shorts, TikTok's biggest competitors, are set to be the beneficiaries of advertising budgets if the app is banned, ad experts said.
TikTok did not respond to a request for comment. The company has said it will exercise its legal rights to prevent a ban, which it says would "take billions of dollars out of the pockets of creators and small businesses."
"The momentum around this legislation is greater than in previous national efforts to curtail or sell off TikTok, and advertisers are keeping a sharp eye on developments," said Jasmine Enberg, principal analyst at research firm Insider Intelligence.
If the bill progresses, "it would put us more on alert," said Jack Johnston, senior social innovation director at Tinuiti, a digital marketing firm that has worked with brands like Revlon and Elf cosmetics.
Still three digital marketing firms, including Tinuiti, told Reuters they are advising clients to keep a "business as usual" approach to TikTok, noting the viral app has survived multiple previous attempts to restrict its availability in the US, including an executive order from then-President Donald Trump in 2020 to ban it.
While advertising budgets are planned months in advance, brands can quickly place or pull ads on social media to respond to events.
Videos on TikTok can quickly set off new trends in music, fashion and beauty, and brands have flocked to the app in hopes of becoming part of major cultural moments. Insider Intelligence estimates TikTok will generate $8.66 billion in US ad revenue this year.
The high stakes involved with banning a major app like TikTok make an outright ban unlikely, one digital ad firm told clients on Wednesday, declining to be named to discuss the conversations.
A sale of the app is more likely, and the roughly six-month timeline would help brands prepare, Johnston said.
If the app is sold during the holiday season, a critical sales period for many companies, "then there is a little more urgency for brands that rely on this time of year for a bulk of their revenue," Johnston added.
Even if marketing budgets are redirected to Reels and Shorts, there's no guarantee the competing features could perform the same as TikTok.
"While a good portion (of TikTok users) are also active on other platforms, there is a healthy chunk that use TikTok as their primary media consumption channel. Reels and Shorts are the two logical offerings out there that most closely match TikTok's content format, but it doesn't mean that this is where users will flock to necessarily," Johnston said.


No Smartphone or Internet? No Problem; AI-Backed Phone Has the Answers 

Visually-impaired Kehinde Olubotusun, who struggled to find information because he has no smartphone, and who is using an Artificial-Intelligence-powered mobile phone that works offline, sits in his house in Alimosho local government district in Lagos, Nigeria February 23, 2024. (Reuters)
Visually-impaired Kehinde Olubotusun, who struggled to find information because he has no smartphone, and who is using an Artificial-Intelligence-powered mobile phone that works offline, sits in his house in Alimosho local government district in Lagos, Nigeria February 23, 2024. (Reuters)
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No Smartphone or Internet? No Problem; AI-Backed Phone Has the Answers 

Visually-impaired Kehinde Olubotusun, who struggled to find information because he has no smartphone, and who is using an Artificial-Intelligence-powered mobile phone that works offline, sits in his house in Alimosho local government district in Lagos, Nigeria February 23, 2024. (Reuters)
Visually-impaired Kehinde Olubotusun, who struggled to find information because he has no smartphone, and who is using an Artificial-Intelligence-powered mobile phone that works offline, sits in his house in Alimosho local government district in Lagos, Nigeria February 23, 2024. (Reuters)

Visually-impaired Nigerian Kehinde Olutubosun is a geography and animal enthusiast who struggled to find information because he has no smartphone. But that is changing, thanks to an Artificial Intelligence-powered mobile phone that works offline.

The service, launched by Canada-based Viamo in Nigeria last month, allows anyone – even in the middle of nowhere without the internet - to access AI technology.

Viamo uses a traditional handset to tap into local mobile phone networks to send commands or requests for information through SMS or voice calls.

It works like other AI chatbots and can be used by illiterate persons since it can be prompted by voice. It is also cheaper.

"For people who are not that financially buoyant, they still have this opportunity to use even as little as 10 naira to ask lots of questions that will actually benefit them, I am so happy," said Olutubosun.

Viamo said the device was targeted at the world's poorest and remotest communities and is being expanded to Pakistan, India and Tanzania after being first launched in Zambia.

Viamo is supported by development agencies in the United States and the United Kingdom, among others. UNICEF has partnered with Viamo to provide information on HIV, tropical diseases, nutrition, water, sanitation and hygiene.


Microsoft Singles Out Google's Competitive Edge in Generative AI

FILE PHOTO: Microsoft logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Microsoft logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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Microsoft Singles Out Google's Competitive Edge in Generative AI

FILE PHOTO: Microsoft logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Microsoft logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Alphabet unit Google enjoys a competitive edge in generative artificial intelligence due to its trove of data and AI-optimized chips, Microsoft has told EU antitrust regulators, underscoring the rivalry between the two tech giants.
The comments by Microsoft were in response to a consultation launched by the European Commission in January on the level of competition in generative AI, Reuters reported.
The growing popularity of generative AI, which can generate human-like responses to written prompts and is exemplified by Microsoft-backed OpenAI's ChatGPT and Google's chatbot Gemini, has triggered concerns about misinformation and fake news.
"Today, only one company - Google - is vertically integrated in a manner that provides it with strength and independence at every AI layer from chips to a thriving mobile app store. Everyone else must rely on partnerships to innovate and compete," Microsoft said in its report to the Commission.
It said Google's self-supply AI semiconductors would give it a competitive advantage for the years to come, while its large sets of proprietary data from Google Search Index and YouTube enabled it to train its large language model Gemini.
"YouTube provides an unparalleled set of video content; it hosts an estimated 14 billion videos. Google has access to such content; but other AI developers do not," Microsoft said.
It said AI-powered voice assistants such as Google's Google Assistant and Apple's Siri give both companies an advantage.
"They are well-positioned to evolve and leverage their respective existing voice assistants into leadership positions in generative AI. New entrants and competitors of Google and Apple will not enjoy the same advantages," Microsoft said.
Google hit back at Microsoft.
"We hope the Commission's study will shine a light on companies that don't offer the openness of Google Cloud or have a long history of locking-in customers - and who are bringing that same approach to AI services," a Google spokesperson said.
Microsoft, whose more than $10 billion investment in OpenAI is now in EU antitrust regulators' crosshairs, also sought to fend off regulatory worries about such partnerships between Big Tech and start-ups.
"All of these start-ups relied on different forms of investments and partnerships that enabled them to enter and expand in the space," it said.
It pointed to Anthropic which has Google and Amazon as investors, France's Mistral in which Microsoft has invested 15 million euros and Canada's Cohere which has Salesforce and Nvidia as investors.
"Encouraging pro-competitive partnerships in the AI space is an effective way to prevent companies from becoming vertically integrated in a manner that would result in an anticompetitive advantage," Microsoft said.


Saudi Arabia’s CST Issues 'GameMode' Report for Q4 2023

The Communications and Space Technology Commission (CST) has released its fourth-quarter 2023 report for the "GameMode" initiative. (SPA)
The Communications and Space Technology Commission (CST) has released its fourth-quarter 2023 report for the "GameMode" initiative. (SPA)
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Saudi Arabia’s CST Issues 'GameMode' Report for Q4 2023

The Communications and Space Technology Commission (CST) has released its fourth-quarter 2023 report for the "GameMode" initiative. (SPA)
The Communications and Space Technology Commission (CST) has released its fourth-quarter 2023 report for the "GameMode" initiative. (SPA)

The Communications and Space Technology Commission (CST) in Saudi Arabia has released its fourth-quarter 2023 report for the "GameMode" initiative. The report included a series of guidelines for improving the quality of Internet connections for online games, as well as home network setup and network device efficiency guidelines, CST said in a press release.
The report also highlighted the steps to participate in achieving the objectives of the "GameMode" initiative, by registering for a "Meqyas fixed internet" device, which allows the user to know the internet performance of the most popular apps and online games. The report keeps up with the latest games and includes performance indicators in its periodic editions, which are published quarterly, the Saudi Press Agency reported.
The "GameMode" initiative increases competitiveness among telecom service providers to provide the best experience for players while raising the level of transparency in the market by publishing data and indicators' results, along with enabling investors and interested parties to view market performance indicators in Saudi Arabia.


Report: Apple Buys Startup DarwinAI

FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa
FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa
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Report: Apple Buys Startup DarwinAI

FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa
FILED - 16 September 2023, US, New York: The Apple logo, taken in Manhattan. Photo: Michael Kappeler/dpa

Apple has bought artificial intelligence (AI) startup DarwinAI and added dozens of the Canadian company's staffers to its AI division, Bloomberg News reported on Thursday.
The iPhone maker purchased the business earlier this year, the report stated, citing people familiar with the matter. The report did not mention the deal value.
The companies did not immediately respond to Reuters requests for comment.
Apple has been slower in rolling out generative AI, which can generate human-like responses to written prompts, than rivals such as Microsoft and Alphabet's Google , which are weaving them into products.
Alexander Wong, an AI researcher at the University of Waterloo who helped build DarwinAI's business, has joined Apple as a director in its AI group as part of the deal, the report added.
DarwinAI has developed AI technology for visually inspecting components during the manufacturing process and serves customers in a range of industries, Bloomberg said.


China Foreign Ministry Says Proposed US TikTok Ban 'Not Fair'

A view shows the office of TikTok after the US House of Representatives overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the US assets of the short-video app or face a ban, in Culver City, California, March 13, 2024.  REUTERS/Mike Blake
A view shows the office of TikTok after the US House of Representatives overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the US assets of the short-video app or face a ban, in Culver City, California, March 13, 2024. REUTERS/Mike Blake
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China Foreign Ministry Says Proposed US TikTok Ban 'Not Fair'

A view shows the office of TikTok after the US House of Representatives overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the US assets of the short-video app or face a ban, in Culver City, California, March 13, 2024.  REUTERS/Mike Blake
A view shows the office of TikTok after the US House of Representatives overwhelmingly passed a bill that would give TikTok's Chinese owner ByteDance about six months to divest the US assets of the short-video app or face a ban, in Culver City, California, March 13, 2024. REUTERS/Mike Blake

There is "no fairness to speak of" in citing national security to reduce the competitive advantage of other countries, a spokesperson of the Chinese foreign ministry said on Thursday, criticizing a US bill to force a TikTok divestiture or ban.
The measure is the latest in a series of moves in Washington to respond to US national security concerns about China, from connected vehicles to advanced artificial intelligence chips to cranes at US ports.
Wednesday's bill, overwhelmingly passed by the US House of Representatives, would give TikTok's Chinese owner ByteDance about six months to divest the US assets of the short-video app, or face a ban, Reuters reported.
"The US House of Representatives passing this bill lets the United States stand on the opposite side of the principles of fair competition and international trade rules," said ministry spokesperson Wang Wenbin.
"If so-called national security reasons can be used to willfully suppress other countries' superior companies, there would be no fairness to speak of."
China has persistently railed that the United States overstretches the concept of national security, and Wang has previously said its bullying acts, as he described them, disrupt normal international trade order, and will eventually backfire.
"The US increasing the (serious) handling of this matter lets the world see clearly whether the United States' so-called rules-based competition is beneficial to the world or is only self-serving," he added.
US legislators have raised fears that TikTok's US user data could be passed on to China's government.
The fate of TikTok, used by about 170 million Americans, has become a major issue in Washington, where lawmakers have complained their offices have been flooded with calls from TikTok users who oppose the legislation.
Wang said the US did not find evidence of TikTok violating national security, but abused state power to go after the company.
TikTok's CEO Shou Zi Chew has said the firm never shared, or received a request to share, US user data with the Chinese government, adding, "Nor would TikTok honor such a request if one were ever made."