Daily Management Review

A Smartphone Is Being Developed By The Owner Of Tiktok


07/30/2019




A Smartphone Is Being Developed By The Owner Of Tiktok
The Chinese firm that owns the popular app called TikTok is no more satisfied by the success of the apps. Instead the firm, ByteDance, now aims to manufacture the devices where the short popular video app can be seen – smartphones.
 
Following having reached a partnership with electronics company Smartisan, the Chinese company is has embarked on a mission for development of a smartphone, ByteDance said.
 
However the current ambitions of the company are very limited and it does not aim to become a major player in the smartphone industry. The new device will be "a continuation of plans that were in place" even before it started working together with Smartisan, said a company spokeswoman in a statement to the media. "The focus is on meeting the needs of Smartisan's existing customer base," she added. No further details about the smartphone or which markets it will be sold in was provided by the spokeswoman.
 
The strategy of the owner of TikTok app comes at a time when the Chinese company is generating impressive revenues and good growth because of its popular social media platform TikTok. Last month, a record $10.8 million was spent by the users of TikTok within the app. And according to data analytics firm Sensor Tower, about 20 per cent of the in-app purchases of the total global sale was made by the app’s users in the United States. 
 
Apart from TikTok, there are a number of other apps that have been developed and owned by ByteDance which includes the likes of news aggregator Jinri Toutiao, the trending video platform Top Buzz and the selfie app FaceU. The company has been identified as the most valuable startup in the world and has a market valuation of about $75 billion, the company has reported.
 
But TikTok is the app that has given the company its global recognition and success. The TikTok app allows its users to share short videos of themselves lip-syncing, cooking, dancing or just being silly. The popularity of the app can be gauged from the fact that, according to Sensor Tower, the app has been downloaded and installed on more than 1.27 billion occasions by users globally.
 
What differentiates the company from some of the other Chinese social media platforms such as Tencent's WeChat, Sina Weibo and Alibaba's Youku is the international appeal and popularity of TikTok. Most of the Chinese social media platforms have not been able to find success outside of China.
 
(Source:www.cnn.com)






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