Does Apple Want to Compete with SnapChat?

Apple doesn’t want to be left behind on social and is working on an app which could compete against the likes of SnapChat and Faceboook, sources say.

According to people familiar with Apple’s strategy cited in Bloomberg, the plans are part of “a newly directed focus to integrate social networking applications within Apple’s mobile products and are a response to the success of social media-focused companies.”

Quoth Bloomberg:

The growth of Apple’s hardware business is slowing and Chief Executive Officer Tim Cook is looking to the company’s services business, such as the App Store and iCloud storage, as a way to generate increased revenue. Apple is seeking to create its own features to remain relevant, particularly for younger users. Apple is starting to develop a video sharing app that allows users to record video, apply filters and drawings to the media—much like Snapchat does—and send it to contacts or via existing social networks.

Apple has failed to launch social apps in the past, such as Ping, an iTunes-based network released in 2010 and promptly shuttered.

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The same people who worked on Final Cut Pro and iMovie software will tackle this project, according to Bloomberg, though Apple has not decided whether it will be a standalone app or rolled into iPhone’s existed camera app.

Apple is pushing for a 2017 release date, sources say.