Apple’s Snapchat-like app isn’t about competing with Snapchat

Another tech giant is making a Snapchat-like app.

Apple Inc. AAPL, -1.15% announced a new app called Clips on Tuesday that will allow iOS users to make and share videos and photos with text, effects and graphics, similar to Snap Inc.’s SNAP, +2.26% offerings. Though it has features similar to Snapchat, analysts say the intent is not to compete with the app, but to keep users in the Apple ecosystem.

On one hand, Apple is looking to gain a greater edge over its competitor Samsung Electronics Co. 005930, -1.22% which is still recovering from product missteps, said Max Wolff, market strategist at 55 Capital.

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