The company behind TikTok is making a smartphone

There just aren't enough smartphones in the world, so TikTok's parent company is going to make one.

Yes, you read that right: ByteDance, the company behind the app that's like Vine if the videos were longer and had more copyrighted music, is going to make a smartphone. ByteDance made the announcement on Monday, saying it would partner with Chinese firm Smartisan Technology to produce the phone, per Reuters.

A ByteDance smartphone has been rumored for months, with the idea being that it would come pre-installed with the company's many popular apps as a selling point.