TikTok is developing a new app for its more than 170 million U.S. users alongside a potential sale, according to a report from The Information. The news follows comments President Donald Trump made on Friday that he “pretty much” has a deal for a U.S. company to purchase TikTok’s U.S. operations, although he did not disclose the potential buyer.

Social media giant TikTok will launch a new version of its popular app to Apple's and Google's app stores on September 5, as part of an agreement to sell its US business looms.

According to The Information, the existing app – referred to internally as "M" – will be removed from US app stores once the new version is

The US version is expected to use its own algorithm, resolving the issue of whether China’s ByteDance will share its crown jewel.

The app is expected to operate on a separate algorithm and data system and users outside the US would not find this version in their app store, sources said.