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Apple Launch Their New Online Mac App Store In The UK (Photo : Getty Images)

Apple is reportedly developing a new way to cash in on the social media boom through an app that could be similar to the successful Snapchat.

Even Facebook has tried to take over Snapchat by acquiring it but the latter refused the social network giant's offer. Their Instagram app now has the similar Stories feature that made Snapchat boom in the first place but there seems to be no slowing down in the latter's figures.

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The Cupertino-based tech giant could be making a video creation app similar to Snapchat's features. Apple's speculated social media app will reportedly be available for iPhone and iPad and no claims have been made as to its availability in other platforms such as Android or even for desktop computers.

Apple has already tried to develop a social media app in the past but has ultimately failed, Computerworld has learned. Even their iCloud app which is supposed to be connected to social media through photos and videos did not really take off much except for the fact that it became mostly a backup tool rather than a way to share posts.

There is no proof of concepts yet for the Snapchat-like social media app from Apple. The company has also yet to confirm whether the reports of their app are indeed true.

Apple's social media app will reportedly be easy to use even with just one hand with different filters and drawings to decorate the captured video, TechCrunch reported.  It is no secret that Apple's sales are starting to decline even with the iPhone figures now that more Android smartphones are released every year.

Their Apple Music streaming service did not take off as well. Spotify and Pandora still take majority of the market with their free and Premium offerings for music lovers across the world.

Apple could be developing the Snapchat-like app to further save their declining sales as social media is one big market today. However, the company will still need to confirm whether the reports are true before iOS users get excited for a new app that will be available for iPhones and iPads.