ByteDance, the owner of popular short video app TikTok, is reportedly building its own smartphone. The selling point of such a device, which would contain pre-loaded apps, remains unclear, though a smartphone that will be somehow optimized for TikTok may find its niche.

Snap is in discussions with major record labels for broader licensing deals, according to the Wall Street Journal. The plan is to add more musical features to Snapchat, in order to better compete against the offerings of rival apps such as TikTok and Instagram that allow song clips to be added to posts.

TikTok's karaoke-like music videos are popular among youth, but the platform has been illegally collecting data from children. The app is now facing a $5.7 million fine from the FTC -- the largest one in the category yet -- for failing to get parental consent for children on the app.