I was excited to hear that the new iPhone will have a front-facing camera and a rear camera with an LED flash.  However, what really piqued my creative side was the fact that I will be able to edit the movies I take directly on the iPhone. Talk about a paradigm shift in the handheld market.

Imagine you are at one of your kid’s events, and you just finished recording it on your new iPhone. You can now edit it on the fly and upload it.  This is a real game changer if you ask me. Just a year ago, you would have had to connect your iPhone to your Mac and upload the video into iMovie. From there you would edit the video and then upload it. With iMovie on the iPhone you have eliminated that step.

With this new functionality, I would have hoped that Apple would have offered a larger capacity iPhone. With recording video at 720p, a 64GB capacity instead of a 32GB iPhone would have been better for dealing with editing videos.  I suppose they will have a way to remove the unwanted video once you’re done editing. Guess we’ll see in a couple of weeks.

You will be able to download iMovie for the iPhone from the App Store for $4.99. That’s a great price considering that the iWork apps go for $9.99 each. You will get different themes to create your videos with. In addition, you will be able to add transitions to give your videos that professional look.

Overall, I am excited to see iMovie on the iPhone. It’s good to know that Apple is porting their apps over to the iPhone and iPad.  I only wish that the capacity for the iPhone was bumped up to 64GB.  Well, there’s always next year.

Photo Credit: WWDC 2010 Keynote-99_74

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