TikTok's parent company is developing a smartphone [CNN]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: CNN
TikTok's parent company ByteDance is developing a smartphone Hong Kong (CNN ) TikTok The Chinese tech firm ByteDance isn't trying to be the next big smartphone maker. A company spokeswoman said in a statement that the new device will be "a continuation of plans that were in place" before it began working with Smartisan. "The focus is on meeting the needs of Smartisan's existing customer base," she added. The spokeswoman did not provide further details about the smartphone or which markets it will be sold in. is too big for TikTok to risk another ban The plans come as ByteDance's popular social media platform TikTok is reeling in impressive user growth and revenue. TikTok users spent a record $10.8 million within the app last month, with users accounting for more than 20% of in-app purchases, according Read ByteDance owns more than a dozen apps including news aggregator Jinri Toutiao, trending video platform Top Buzz and selfie app FaceU. The company's reported valuation of $75 bill
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