So you don’t have an iPhone 4 yet, unless you were lucky enough to have it delivered, but if you did receive Apple’s latest handset, you probably noticed that it doesn’t come with a tool to edit all the 720p footage you just shot.

That’s where iMovie for iPhone comes in handy. It just went live. So feel free to hit up the App Store and buy it for $4.99.

According to Engadget, they aren’t seeing iMovie in the App Store on the iPhone 4, just in the desktop client.

[Engadget]