China’s ByteDance, owner of the popular TikTok streaming app, is taking a step into hardware to develop its own smartphone, according to two people familiar with the project.
ByteDance, whose $75bn valuation ranks it as one of the world’s biggest start-ups, plans to launch a phone preloaded with its own apps — which include newsfeeds, short video platforms and games — in a bid to further spread its reach.
The move comes as Chinese tech companies, spooked by the fallout from US bans on exports to Huawei, are ramping up their self-reliance.
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