As announced in a press releases earlier today, Apple has just released the new iMovie for iPad. It is available now in the App Store at $4.99 here. iMovie is a universal app for iPhone 4 and iPad 2, a free update for existing customers.
iMovie for iPad takes where the Mac and iPhone versions left off to bring a powerful yet easy to use movie editing experience to the iPad, deeply based on multitouch technology. Users of iMovie for iPad can easily import their photos shot on the iPad 2, or iPhone or iPod touch (or any other camera) through the Camera Connection Kit; movies recorded at 720p through the iPad 2’s back camera can be accessed from a Library popup menu to start editing right away. With a split-screen interface you can visualize the movie you’re editing in the top section, and manage or trim video and photo segments in the lower part of the iPad’s screen. You can pinch to zoom to additional parts of a video, use the precision editor to adjust videos with accuracy.
You can import songs from your iPod library to use for background audio, or use the built-in effects in iMovie. You can share videos on the web through Facebook, Youtube and a variety of other services, beam your creations to the Apple TV via AirPlay, or simply export to iTunes.
Go get the new iMovie 1.2 here.