iPhone Movie Making to be the Next Big Thing?

Business Week has published an article on the rumored iMovie capabilities of the next iPhone. They suggest that video recording and editing on the iPhone will become the next big thing.

Now, I think we’re about six weeks away from the next big thing. At long last, after decades of having to mess with camcorders and cables and PC video editing software and hard drives, my gut tells me Apple will make the iPhone a one-stop studio for recording, editing, viewing and sharing your own videos. Actually, more than my gut.

I’ve spoken with a source that is familiar with Apple’s plans for the next iPhone, which may well be announced at Apple’s Worldwide Developers Conference in early June. Evidently, shooting video is as easy as it is with a Flip, the ingenious device made by Pure Digital (recently purchased by Cisco). Then there’s an iMovie app that lets you quickly save the sections you want, right there on the phone itself. There may also be support for MMS, so the clips can be shared wirelessly with friends. And because of the iPhone’s relatively large screen, your friends don’t have to schlep to your PC or their Facebook page to see that video of your kids or your safari. Just hand them your iPhone.

Evidence of video editing on the iPhone has already been found in beta versions of iPhone OS 3.0 seeded to developers. You can see some of the scrubber graphics below.

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