iMovie on the iPhone, and yes it's got Ken Burns

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Today at the WWDC keynote Steve Jobs unveiled the iMovie app for the iPhone. You would be amazed to know that this time around video on the iPhone will be wickedly useful.

Capturing amazingly sharp 720p, iPhone 4 will be one of the greatest smartphone video capturing devices on the market. Interestingly enough, the phone will come with a lite version of iMovie. Meaning transitions, the Ken Burns effect, clipping, tap focus, led light and one-tap sharing make their debut. It has text and titles, geolocation, music and even multi-touch gestures for trimming in the timeline. Also included are five – hopefully more soon – iMovie themes Modern, Bright, Travel, Playful, and News.

We’re no longer sure it’s a lite version. Coming soon for $4.99 in the app store.

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