Aug 29, 2016 10:04 PM EDT By Anita Valencia, UniversityHerald Reporter

Check out the news highlights from Apple Inc.

Apple to release video-sharing app like Snapchat, in 2017

Apple is reportedly working on a video recording app similar to Snapchat, set to be released next year.

It seems that Snapchat's popularity has not only inspired Facebook and Instagram to create similar app features. Apple Inc. is reportedly working on the video-sharing app like what Evan Spiegel's has succesfully created.

The news initially came from Bloomberg that reported the app in details. It stated that the new Apple's video-sharing application will use filters and drawings. Users will be able to send them to contacts or share the videos through the use of social network platforms. Furthermore, the app will be able to shoot, edit and upload video less than 60 seconds. It is also worth to know that iMovie and Final Cut Pro happened to be the team behind this upcoming app.

Mark Gurman explained that Apple wants to step up in social networking game as well, just like Instagram and Twitter. Apple is likely to be 'more open' in the way it works as this app will allow wider interaction by connecting to every social network in the device. It is still unclear whether this app would be a standalone application or not.

Apple Inc. biggest competitor in China is the local's smartphone

Meanwhile, Apple's iPhone sales were reportedly declining to the fifth position due to China's growing device shipments. 24/7 Wall Street wrote that the Chinese smartphones played a part in Apple's market share drops - stating Huawei as one of the biggest competitors among other local brands such as Vivo, Xiaomi and Oppo.

As a matter of fact, Xiaomi and Huawei have been developing cheaper premium devices. Kantar's analyst, Lauren Guenveur spoke to Bloomberg, saying that the Chinese smartphones, like Huawei and Oppo are much cheaper than iPhone but they have relatively good performance like bigger battery and better connectivity. Apple does expect the sales growth in middle and upper segments but many users switch to the local brands.

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