Beijing Byte Dance Telecommunications Co. Ltd. is preparing to build its own smartphone with preinstalled apps, London's Financial Times reported May 26, citing two sources.

The TikTok owner is planning to add news feeds, games and short video apps to increase its audience. A smartphone with preinstalled apps is one of Byte Dance founder Zhang Yiming's aspirations, one of the sources said.

The Chinese company is reportedly also set to launch a music-streaming app for overseas markets.