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WWDC 2010: iMovie for iPhone Announced!

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Randy Ubillos, Apple Chief Architect of Video Apps, has just taken the stage to show off iMovie for iPhone, claiming it’s one of the most exciting things he’s ever worked on.

What’s iMovie for iPhone about? “Record HD video and edit with beautiful transitions and titles, all on the device you carry with you every day,” says Ubillos.

Once you bring up the app, you quickly get a list of all the project you have, and can just tap on a project to get into the editing environment. Clips are viewed along the bottom of the display: rotate the phone to landscape and you can record directly into the timeline, or choose from existing clips, which are dragged in. Pinch to change the scale of the timeline.

Photos can also be added, as well as transitions (entered with a scroll box) and even titles. The new camera records geolocation information and gets picked up automatically by iMovie and put into the screen as an option.

You can also add music tracks to your video from your iTunes library.

Wow. This is incredible. There’s just nothing like this out there right now. It’ll be available on the App Store for just $4.99.

[images via GDGT]

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