TikTok phone!TiKTok's parent company Bytedance isn't satisfied being the most valued unicorn in the world which is probably why it is now venturing into the smartphone territory to take on big guns like Xiaomi and OnePlus. The Beijing-based company has decided to add one more jewel to its crown and include smartphones to its existing portfolio. The company already has TopBuzz, Lark, Feiliao, Doushan and a yet to be named music streaming app under its belt.
According to The Financial Times, the ByteDance CEO Zhang Yiming always wanted to build smartphones. The Chinese company recently acquired the patent portfolio of smartphone maker Smartisan and got hold of some of its employees. ByteDance had claimed that the acquisition would help it to "explore the education business," but this recent news has given a completely new angle to the purchase.