08:06 AM EDT, 10/11/2024 (MT Newswires) -- Alphabet's (GOOG, GOOGL) Google ( GOOG ) and Apple (AAPL) were asked by Indonesian authorities to remove PDD Holdings' (PDD) Temu from their app stores, Reuters reported Friday, citing a minister.

Indonesia's communications minister Budi Arie Setiadi told Reuters the move aims to protect the country's small and medium businesses from potential competition posed by Temu's low-cost business model, which allows consumers to buy directly from Chinese factories.

The Indonesian government is also considering similar action against Chinese retailer Shein, according to the report.

Minister Setiadi described Temu's business model as "unhealthy competition" for the local enterprises, although no transactions on Temu have been recorded yet in the country, Reuters reported.

Indonesia also plans to block Temu's future investments in the country, the report said.

Google ( GOOG ), Apple and PDD Holdings did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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