(Yicai Global) May 28 -- Bytedance Technology, the company behind TikTok and Jinri Toutiao, has declined to comment on speculation that it may use patents picked up from indebted handset maker Smartisan to enter the smartphone and Internet of Things sectors.

The firm remained silent after Yicai Global learned of the possible plans from an insider at the Beijing-based firm.

The company bought certain patents from Smartisan in January to pivot toward education-related products and some of the Shenzhen-based firm's staff joined Bytedance as part of the deal. 

"We cannot reveal acquisition details because they are confidential," Bytedance said at the time. "Smartisan employees joining Bytedance is a normal talent flow." 

Smartisan has withdrawn from the smartphone sector to focus on electronic cigarettes.

Editor: Zhang Yushuo, William Clegg