TikTok building new version of app ahead of expected US sale

TikTok is set to launch a new version of its app for U.S. users, called "M2." This release is timed with a planned sale of the app to a group of investors. The new version is expected to be available in U.S. app stores on September 5.

President Trump mentioned discussions with China regarding a TikTok deal, stating the U.S. "pretty much" has an agreement in place. Users will need to download the new app to continue using the service, although the current version will remain functional until March next year.

Previously, there was an effort to spin off TikTok's U.S. operations, but that stalled due to China's disapproval after tariff announcements.

The situation remains fluid, and TikTok has not publicly commented on the reports.