If you are looking for an alternative to Apple’s iMovie app for the iPhone to edit your movies directly from your iPhone a new free application called Splice, is definitely worth a look.
Splice allows you to combine HD photos and videos in a very easy to understand way. Add music tracks from your iPod library, sound effects, transitions, borders, effects (like Ken Burns, slow motion and fast forward), trim video and audio and even narrate with your own voice. Watch the video after the break to see the Splice app in action.
Splice is available in either a free version or paid, the only difference being that the free version include iAds. Both are available to download from te Apple iTunes Store now.