Apple has released iMovie video editing application for iPhone 4. You can buy buy the iMovie app for $4.99 from Apple App Store.
Made for Multi-Touch.
• Tap to add or record video right into your project.
• Drag to trim the lengths of video clips and photos.
• Pinch to zoom the timeline and get a closer look.
• Slide to scrub through the video in your project.
Give it a theme.
• Choose from a selection of themes including Modern, Bright, Travel, Playful, and News.
• Each theme includes a matching set of titles and transitions – plus its own soundtrack.
• Instantly change themes or swap themed elements in your project.
• Titles and graphics automatically update with location data from your video.
Add music and photos.
• Select from included music that matches each iMovie theme, or select from your own song library.
• Enable ducking to automatically lower the volume of background music and highlight audio from video clips.
• Add photos from your own library, or take a picture and drop it into your project.
• Customize each photo with a unique “Ken Burns” panning effect.
Share your movie.
• Export your movie in one of three sizes: Medium, Large, or HD.
• Share your movie on the web in a MobileMe gallery or on YouTube.
• Send your movie to friends and family in an email or via an MMS message.
• Easily sync your movie back to your computer.
What's New In Version 1.0.1
• Improved reliability when exporting movies containing photos.
• Resolved issue with music playback within a project.
• Additional performance and reliability improvements.
Download iMovie app via iTunes for $4.99
You might like this : iTunes 9.2 for for windows and mac osx (ios4 support)
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