Apple iPhone rumours have been quite frequent so far this year, and none more so than the video recording capabilities and an article by businessweek takes a look at said iPhone video recording which is expect to be included in the 3rd generation Apple iPhone and iPhone 3.0 firmware.

Apparently according to sources, the next Apple iPhone will make shooting video footage simpler by featuring an iPhone application called iMovie which enables on-iPhone editing and uploading direct to YouTube.

There may also be support for MMS so said video clips can be shares wirelessly with others. Of course Apple is being completely silent on this matter as they always are until they are good and ready.