It does for 4K, but only when you use ONLY the front camera. When using the back camera as well 2K at the front is the limit. It does make a timelapse if you want, but you can't use the emergency button as you'd like (it'll only save the last picture, not the recorded movie file). It is more expensive when looking at bang for your buck, since Innovv will do 2x 2K for the same price, where your Falcon F1 will do max 2K+1080P. The (i)Phone-app doesn't have auto update, so you'll have to delete and re-install it once in a while. The cables are also quite long and you'll have to leave that somewhere. I've ordered some connectors and soldered my own short cables to replace the originals to save space (and weight although eating a burger less would probably achieve more results).
I've upgraded from my Sykik dashcam since it failed on me. Overall I'm content with quality and functionality, but if I knew before what I know now, I'd probably make a different descision, which doesn't mean this is a bad product. It is a good product, but there is better (for the same price).