The new iPhone changes everything. Again.  And when the people at Apple say that, they are right. Apple has just released iPhone 4, and it includes a new 5-megapixel camera. The user can also take advantage of the brand new 720p-capable HD video camera and the mobile version of iMovie for video editing.

We all know how Final Cut Pro works and what that program can do. Its developer Randy Ubillos demonstrated how the mobile version of the iMovie works on the iPhone. As he said, this is “one of the most exciting apps” he has ever worked on.

With iMovie users can combine movie clips, add dynamic transitions and themes, and put music and photos into the movies. The app costs only $4.99, and it will be available in the App Store.

The advantage of iMovie is that you can edit your video right on your iPhone, you don’t need to download it to your desktop. All you have to do is to select the start and the end points on a filmstrip.

Imagine that you are on vacation and you have filmed an awesome situation or just want to share with your friends that exciting day that you just had. If you use the iMovie app, you will have the perfect movie to share.

Need to know how to focus the video? Just tap on that part of the screen, where you want to focus on. The camera immediately will focus on it and will adjust exposure to match the lightning.

With iMovie, video sharing has become easier than ever.