Just in case you missed it, iMovie for iPhone was announced during Steve Jobs keynote at WWDC 2010, and we have a video of that event for your viewing pleasure below demonstrating iMovie for iPhone 4 during the keynote.

The video which can be viewed below lasts almost four and a half minutes and was shot by Noah Kravitz over at Phone Dog who just happened to be attending WWDC 2010 with video in hand, how lucky.

Apparently iMovie is a video editing application which enables the user to make HD movies, ahs been specifically designed for the multi-touch tech on the iPhone 4, and will apparently be coming to the App Store quite soon and will cost you $4.99.

Anyway, enough from me, so if you want to check out what iMovie for iPhone 4 is all about hit up the video demonstration below, relax for a few minutes and hear all about it from Apple’s top guy himself…enjoy.