Apple’s revenues are stagnating. It’s a bitter fact for the Cupertino giant. To counter this, its Chief Executive Tim Cook is doing everything in his power to get the company’s value up. His latest attempt: a new video editing and sharing app for its mobile platform, and yet another attempt by a known tech giant to take on Snapchat.
Hardware-wise Cook has exhausted almost all possible ways to get Apple’s numbers up. We saw the infamous refurbished iPhones scheme, the opening up of new Apple Stores and production bases and even the announcement about a new Research and Development center in China. The effect these developments have had on the tech giant’s revenue is anyone’s guess.
In order to boost the company’s (re)growth, Apple is apparently developing a video sharing and editing application and is testing new related features for the iOS platform. It seems as if Apple is taking a cue from the amazing success of social media platforms like Snapchat and Instagram– using their bids to raise its user-base.
This however, isn’t the first time that Apple has tried its hand at increasing its revenue via software tech. We previously saw Apple launch an iTunes-focused social network called Ping in 2010. This, unfortunately, didn’t take much air.
According to insiders, Apple has hired Joe Weil, the former president of a New York-based video production company, to lead the project. Weil co-developed a video blogging app called KnowMe. He joined the company in December 2015, according to his LinkedIn profile. His team comprises of the same Apple department that developed Final Cut Pro and iMovie software, apparently.
The app in progress on will be focused on making video editing and sharing a simple process. In fact, reports point towards the fact that the service will promote one-handed operation and that users will be able to capture, edit and share a clip in less than a minute.
In fact, the service seems to be more or less like Instagram. Even the square frame that the latter had before seems to be the way the Cupertino giant is going.
For now, the company is planning to introduce the service as a stand-alone app. But according to insiders, the company could change this and decide to package the functionality into the iPhone’s existing camera application. The service is still in the development stage and Apple is hoping for an early 2017 launch.
People involved in the project believe that if there is any delay in the finalizing of the project or it isn’t up to the mark, it could even be canceled.