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Instagram has launched a new video app it is claimed can recreate a $15,000 image stabilising camera with a smartphone.

The app, called hyperlapse, allows people to easily create timelapse videos.

It allows users to automatically stabilise their video, and choose what speed the timelapse is played back at.

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The app can be downloaded to iOS or android handsets for free.

HOW IT WORKS

The app can be downloaded to iOS handsets for free.

Users don't need an Instagram account to create a hyperlapse. 

Instead, users open the app and are taken straight to the camera. 

Tap once to begin recording and tap again to stop. 

Choose a playback speed that you like between 1x-12x and tap the green check mark to save it to your camera roll. 

You can share your video on Instagram easily from there

'Since launching nearly four years ago, it has always been a priority to bring the Instagram community simple yet powerful tools that let people capture moments and express their creativity,' the firm said.

'Today, we're excited to announce Hyperlapse from Instagram, a new app to capture high-quality time lapse videos even while in motion.'

Timelapses are set to become more popular later this year, as Apple has included them in the next version of its iOS software.

However, Instagram has beaten Apple to the punch with its surprise app launch. 

'Traditionally, time lapse videos depend on holding your phone or camera still while you film,' Instagram said.

'Hyperlapse from Instagram features built-in stabilization technology that lets you create moving, handheld time lapses that result in a cinematic look, quality and feel—a feat that has previously only been possible with expensive equipment. 

Users can choose a playback speed between 1x-12x and tap the green check mark to save it to your camera roll.

The firm claims the apps makes creating timelapses simple.

'We designed Hyperlapse to be as simple as possible.  

'From documenting your whole commute in seconds or the preparation of your dinner from start to finish to capturing an entire sunset as it unfolds, we're thrilled about the creative possibilities Hyperlapse unlocks.'