Apple took over a Sweden based firm Algo Trim, specializing in the algorithm for tasks like compressing images, video, and software.
Sounds promising. The article also notes that Alto Trim is leveraged by Google to compress the size of software updates that are pushed through to devices.
AlgoTrim has various product offerings for compression and decompression tasks for processing video in real time.
That would come in handy for when an iPhone captures 120fps HD video (slow motion playback ability). Efficiency in the iPhones real-time video compression enables the user to be able to shoot and store more video.
In addition to the benefits this would have for iPhone captures, this would indeed be helpful for Apple’s envisioned Streaming TV experience, whatever that may be.