Tik Tok app

TikTok owner ByteDance developing smartphone

 TikTok is the fastest-growing social media app, with about 500 million regular users.

The app, which lets people post 15-second videos, is estimated to have been downloaded more than a billion times on app stores.

TikTok developer ByteDance is making the move after acquiring patents and employees from device-maker Smartisan.

Besides TikTok, ByteDance owns several popular AI-based video and news apps, such as Slack alternative Lark, video-chat app Flipchat, and news aggregator Toutiao, but TikTok is by far its most popular offering.