It’s been a busy couple of months for Bytedance, one of the world’s most valuable startups and the operator of globally popular video app TikTok. The Beijing-based company has continued to grow its list of apps to include the likes of work collaboration tool Lark, an instant messenger called Feiliao as well as a music streaming app, and now it appears to be taking a bold step into the hardware realm.
Bytedance is planning to develop its own smartphone, the Financial Times reported (paywalled) citing two sources. A spokesperson from Bytedance declined to comment on the matter, but the rumor is hardly a surprise as smartphone pre-installs have long been a popular way for Chinese internet companies to ramp up user sizes.
There’s also urgency from Bytedance to carve out more user acquisition channels. After a few years of frantic growth, Bytedance failed to hit its revenue target for … Read the rest