iMovie now a coming attraction for the iPhone

With a new iPhone on the way, Apple plans to have a mobile version of iMovie ready for action. CEO Steve Jobs announced plans to release the video-editing app during Monday’s Worldwide Developers Conference keynote.

The app will cost $5 and should arrive in the App Store soon. “If we approve it,” said Jobs, in a joking reference to his company’s often murky app approval process.

If the preview of the app on Monday is anything to go by, though, expect iMovie for the iPhone to get the green light. Demoed by Randy Ubillos, the same developer responsible for the redesign of iMovie back in 2008, iMovie for the iPhone takes users beyond simple cuts in the Camera Roll and allows them to put together fully formed films without ever touching a computer.

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