Hyperlapse is Microsoft's fancy name for smooth time-lapse videos. The Android app can shoot new scenes or import your existing videos and stabilize them, remove the shaking, and either keep them at the same speed or fast-forward them up to 16x for a more adrenalin-pumping effect.
The app received an update to add two important features when you're dealing with video. First is the ability to shoot and export edited video in 1080p, and second is the option to save videos to the SD card. Both options can be found and activated in the app's settings, but they're only available on devices that support them.
Microsoft started a beta test for its Hyperlapse video app a while back, but today it's out of beta and ready for download. This app takes a boring video and speeds it up into a clean time lapse clip. It doesn't have a ton of settings to play with, but most of the magic is automatic.
Microsoft has released the first Android beta of Hyperlapse Mobile, the culmination of a couple of years research. The app captures video from your camera and outputs a smooth, sped-up time lapse, which is far more complicated than you might expect. It can also convert existing videos. Rather than simply give you an end product that is akin to watching your video on fast forward, Hyperlapse intelligently chooses frames that make it far easier to watch.
This makes the most sense for first-person videos, due in large part to the constantly shifting perspectives and camera shake common to that format. If you shot video while walking around the neighborhood, even with OIS, you would likely be shocked at how much shake and how jarred you'd be by the video played at 4x speed.