Time lapse Studio is a new app released this week that claims to have more features than any time lapse app in the store, including filters and on-phone video encoding.

Timelapse Studio captures time lapse sequences and is the only time lapse app in the Windows Phone store that encodes sequences to MP4 videos on the phone. 

Timelapse Studio also provides DSLR-like controls over:

• Focus
• Exposure Compensation
• Shutter speed
• ISO
• White Balance
• Resolution

Users can set a delayed start time, and specify a capture completion point (number of slides, timer, or end time).  The app also leverages the Lumia Imaging SDK to apply filters to your time-lapse sequence.

The app is free to download and will allow users to take sequences with up to 60 frames.  An in-app purchase of $1.99 allows users to unlock the ability to take unlimited frames.

Download the app from the store here.