During its WWDC keynote address, Apple and several third-party developers announced notable new and upcoming app releases for the iPhone and iPod touch. Most notably, Apple announced a new version of iMovie for iPhone 4. Described by Apple as a “feature-rich video editing app,” iMovie will offer a Multi-Touch interface for selecting and editing video, with the ability to add photos customized with a Ken Burns panning effect, and soundtrack audio chosen from a built-in, custom-scored music library or from the device’s own iPod library. The app can detect audio such as conversations or narration and automatically reduce the soundtrack volume, and can export in one of three sizes—medium (640×360), large (960×540), or HD (1280×720)—with sharing options including email, MMS, MobileMe, and YouTube.
Edited movies can be further enhanced by applying one of five built-in themes, with custom titles, transitions, and maps based on the geotag information of the video clips being used. iMovie will soon be available from the App Store and will sell for $5.

Activision got on stage to announce the release of Guitar Hero for the iPhone and iPod touch. Based on the popular music videogame for traditional consoles, Guitar Hero offers new gameplay mechanics including slide, strum, and whammy gestures, built-in social network feeds, the ability for users to personalize their in-game personas and share them with friends.
Six songs, including selections from The Rolling Stones, Queen, Vampire Weekend, and The White Stripes are included, with other tracks available via in-app purchase. Guitar Hero for the iPhone and iPod touch is available now and sells for $3.
Announced for a release this summer was Netflix for the iPhone and iPod touch. Similar to the company’s well-received app for the iPad, Netflix for the iPhone and iPod touch will allow users to instantly stream movies and TV shows to their devices, with features including the ability to resume content in progress that was started on another device, queue access, and optimization for playback over 3G or Wi-Fi.