It is expected that movie for iPhone can become the next big step in mobile filmmaking. But in this case it is necessary to take advantage of newest iPhone of Apple in order to use it.
According to Jeff Carlson, the mobile version of iMovie can be used only on the iPhone 4 and is available for $5. It will be launched together with the iPhone 4 on June 24.
It was noted by Carlson, it is necessary to use the power of the iPhone 4’s A4 processor in order to create real-time transitions as well as handle video. It should be mentioned that the iPad integrates the same A4 processor, but despite this fact, it was noted that the app will work on the Apple tablet.
Also it was mentioned by Carlson that it is impossible to transfer iMovie projects for further editing on a desktop computer. But it seems like such a limitation is only temporary. During the WWDC keynote, Apple demonstrated how it is possible to export finished videos to the Web or iTunes.