TikTok’s parent company is reportedly working on a smartphone

ByteDance, the company behind the fast-growing teen sensation TikTok, is getting into the smartphone business, according to a report from Reuters. The project, which Chinese financial news site Caijing says has been in development for seven months, is the continuation of a separate deal with niche handset manufacturer Smartisan. If realized, the handset would allow the company to diversify beyond the entertainment app market. Reuters states that ByteDance has acquired several patents from Smartisan, as well as several key employees, including former executive Wu Dezhou. Smartisan is one of the smaller players in China’s chaotic and competitive handset industry. The…

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