iMovie for iPhone 4 Now Available

Apple [AAPL] launched the iPhone 4 today. Along with that launch the iMovie app for the smartphone was also launched. The iMovie app is for iPhone 4 only and costs $4.99 to buy.

The app allows you to create HD movies and edit them whilst on the move. A number of transitions have been included allowing you to create effects between two videos or between two segments on a video.

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 BurnsĀ 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.

The iMovie app is available now over at iTunes.

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