Apple ‘s newest iPhone 4 will be blessed with iMovie which is the great new application which has been designed exclusively for the iPhone 4.

This takes movie making to another level and includes a much more fun filled movie making experience. An article over at India-server.com gives us a little more information including the expected price.

The application offers users a huge range of options which include capturing and editing with themes and titles and also the ability to share through the internet. The iPhone 4 supports multitouch technology which assists in the movie making experience.

You can simply drag in order to modify the size of your clips and also pinch and zoom and then tap to add or record. The application is expected to be arriving very soon for a price of just $4.99. Please note the iMovie application will not be available on 3G iPhone handsets.