TikTok parent company Bytedance to reportedly launch smartphone

Beijing based Bytedance that also owns social media app TikTok, is now planning to enter into hardware division and is working to soon launch a smartphone. Presently, Bytedance has work collaboration tool Lark, an instant messenger called Feiliao and a video streaming app TikTok in its portfolio.

Bytedance quickly grew as one of the most valuable Chinese startups and is looking to gain more users via entering into new channels. However, despite quick growth, Bytedance did not hit its revenue targets last year due to the slow ad spending in China, claimed a report by Bloomberg.

This is not the first time an app company has tried to make its way into the hardware business. Earlier, selfie app maker Meitu, forayed into smartphone business and introduced devices that were pre-installed with its suite of photo editors. Recently, Meitu sold its smartphone segment to Xiaomi, as the latter wants to capture more female users and newcomers.

It’s not yet clear as to when the smartphone will be launched.

In April, was faced a two-week ban in India that cost the app nearly 15 million users after Google and Apple removed it from their respective app stores following a directive from the Supreme Court.

India is largest market for TikTok having over 600 million users. The removal of the app for nearly two weeks put a dent to the app’s user growth in India, bringing to a halt to what has been the app’s best month yet in the country, said a report by Sensor Tower.

In April, Madras High Court issued ban on the app after a petition was filed alleging the social platform promotes pornography, child abuse, and suicide.

TikTok app has over 54 million monthly active users in India and has been downloaded over one billion times. Post the ban, TikTok returned to the top 10 on India’s App Store. The app currently ranks No. 1 in the Photo and Video category and No. 6 overall.