iMovie for iPhone iconWhen Apple revealed the iPhone 4 last week, they also announced iMovie for iPhone, a video editing application that goes beyond the trimming option of the iPhone 3GS. Much was left unknown about iMovie, with many people asking about the capabilities of this soon-to-be-released application.

Jeff Carlson of TiBits got a bit more information about iMovie from one of his sources at Apple:

  • iMovie for iPhone will be for the iPhone 4 only. It will not be compatible with the 3GS or older models because it requires the A4 chip
  • iMovie will not be able to run on the iPad
  • Edited movies can be transferred to iTunes but they can’t be further edited on iMovie on the Mac.

At $4.99, that is an application I will make sure to download as soon as I get my hands on the iPhone 4.