China's ByteDance, owner of the popular TikTok streaming app, is taking a step into hardware to develop its own smartphone [Editor's note: the link may be paywalled; alternative source], Financial Times reported Monday, citing two people familiar with the project. From a report: 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. ByteDance is one of the few tech companies from China to boast a large user base outside its home market, including in India and the US.
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